Local Turkish scrap market closes the week with an increase

Seven Turkish mills have announced price increases for domestic scrap purchases today, April 9, in the range of TRY 50-220/mt or $7-27/mt, depending on the grade. Other Turkish mills have kept their prices stable, accompanied by a sideways movement in their dollar-based prices for some grades and a $1/mt increase in the dollar price for other grades, as compared to yesterday.

Accordingly, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained at TRY 2,950-3,730/mt, while the dollar-based quotations have moved up on the upper end from the range of $362-457/mt to $362-458/mt. The largest cumulative price increase this week was made by Isdemir and Erdemir, with both mills raising their domestic scrap purchase quotations for DKP grade by a total of TRY 170/mt during the week.

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 8.15