Exchange rate still impacts local Turkish scrap market

As compared to the levels recorded in SteelOrbis’ last report published on March 25, prices in the local Turkish scrap market have decreased on dollar basis due to the ongoing depreciation of the Turkish lira against the major currencies. Although most mills have kept their prices in the local currency stable during this period, their dollar-based quotations have decreased by $9-11/mt, depending on the grade. Meanwhile, some mills have increased their domestic scrap purchase prices on the back of the slight rises recorded in the deep sea segment, with the increases in question in the range of TRY 50-400/mt, resulting in diverse trends in these mills’ dollar-based quotations.

Accordingly, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from TRY 2,750-3,420/mt to TRY 2,925-3,470/mt, while the dollar-based quotations have moved from the range of $345-429/mt to $357-424/mt.

All the above prices are for deliveries to customer and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes. Price comparisons for Mescier have not been shared as the steelmaker’s quotations were not included in the table published on March 25.

$1 = TRY 8.19