Local Turkish scrap market continues to move up

As compared to Thursday, February 11, prices in the local Turkish scrap market have increased on lira basis, with increases also in dollar prices, as the lira gains strength against the US dollar. In this period, some mills have increased their prices by TRY 50-230/mt or $13-38/mt, while others have kept their local currency prices stable, which resulted in a $5-6/mt rise in their dollar-based quotations, both depending on the buyer and the grade.

Accordingly, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up from TRY 2,570-3,025/mt to TRY 2,650-3,025, while the dollar-based quotations have increased from the range of $366-430/mt to $382-437/mt.

Some market sources state that scrap flow in the local Turkish market is still strong.

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 6.93