Further decreases in local Turkish scrap market

Following the downward revisions recorded in the local Turkish scrap market at the end of last week, it is observed that some mills have again reduced their prices as compared to the levels recorded on December 30. The revision was made within the range of TRY 40-250/mt or $7-35/mt, depending on the buyer and the grade. As the Turkish lira has lost some strength against the US dollar over the past days, the dollar-based quotations of the other mills that kept their prices stable have decreased by $1/mt, while only one mill has increased its price, by TRY 30/mt or $3/mt in this period. Market sources state that the domestic scrap flow in the market is strong and that prices are acceptable at the moment.

Currently, the general range in the local Turkish scrap market for the benchmark DKP grade scrap is in the range of TRY 3,150-3,825/mt, while the dollar-based quotations have decreased from the range of $446-521/mt to $428-520/mt.

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

$1 = TRY 7.36