Erdemir raises upper end of local Turkish scrap purchase prices

Today, October 6, only Erdemir among the Turkish mills has increased its domestic scrap purchase prices, raising them by TRY 50/mt ($7/mt), and by so doing it has pushed up the upper end of the general quotation range. As a result, the benchmark DKP grade scrap prices in Turkey have risen by TRY 15/mt or $3/mt on the upper end to TRY 2,050-2,360/mt ($264-304/mt), while the $1/mt rise observed on the lower end is solely the result of the fluctuation of the exchange rate. For the mills that decided to keep their domestic scrap quotations stable, their dollar-based quotations have increased by $1/mt due to the change recorded in the Turkish lira-US dollar exchange rate.

All above prices are for deliveries to customer and exclude VAT. 

$1 = TRY 7.77