Local scrap procurement prices in Turkey increase on lower end

Since SteelOrbis’ report published on Friday, July 29, some Turkish mills have increased their local scrap procurement prices by TRY 80-620/mt or $4-34/mt. This move was interpreted as a step to compensate for the Turkish lira’s depreciation against the US dollar and also as a result of the improved expectations for import scrap. Some mills have kept their prices stable, which resulted in a $1/mt fall in their dollar-based quotations.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has decreased from TRY 5,750-7,400/mt ($321-413/mt) to TRY 5,800-7,400/mt ($323-412/mt).

All above prices are for deliveries to customer and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.

$1 = TRY 17.96