Local Turkish scrap market mostly moves up, upper end exceeds TRY 7,000/mt

Since SteelOrbis’ report published on Friday, December 3, most Turkish mills have increased their domestic scrap procurement prices by TRY 130-500/mt or $9-36/mt. While others have mainly kept their prices stable on both Turkish lira and US dollar basis, one Izmir-based producer has reduced its price by TRY 50/mt or $4/mt. With the recent changes in prices, the upper end of the price range has exceeded the TRY 7,000/mt threshold for the first time in the last 15 years. Since the start of 2021, average domestic DKP prices in Turkey have increased by around 85 percent.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from TRY 5,700-6,580/mt to TRY 5,700-7,050/mt, while on US dollar basis prices have been revised from $414-478/mt to $414-512/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 13.68