Fall in Turkish domestic scrap market deepens, some mills halt purchases

The fall in the Turkish domestic scrap market has deepened today, March 23, as compared to the levels recorded in SteelOrbis’ report published on Friday, March 20, while İzmir Demir Celik (IDC) and Koc Metalurji have announced that they have halted their domestic scrap purchases.

As compared to Friday, most mills have today reduced their prices on Turkish lira basis by a further TRY 30-85/mt, depending on the grade. This has mostly been reflected as a $8-17/mt decrease in their dollar-based prices amid the depreciation of the Turkish lira against the US dollar. It is worth mentioning that most of the price revision was made during the weekend. Specifically, most mills cut their prices by TRY 20-65/mt on Saturday, March 21.

In the meantime, the mills that have kept their Turkish lira prices stable have decreased their scrap purchase prices on US dollar basis by $3/mt.

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

$1 = TRY 6.60