Local Turkish scrap market mostly stable, though a few price cuts seen

Along with the ongoing scrap price softening in Turkey’s Iskenderun region, a blast furnace-based producer has decided to cut its scrap prices this week. The local Turkish scrap market has mainly moved sideways. Two mills have reduced their prices by TRY 100-300/mt or $7-17/mt week on week, depending on the grade. Other mills have kept their own quotations unchanged, and this move resulted in a $2-3/mt decline in dollar-based quotations due to the fluctuation of the exchange rate. SteelOrbis hears that local scrap flow is strong in Turkey. While Turkish mills are staying out of the import scrap market, they are supporting themselves by buying domestic scrap.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap currently stands at TRY 7,100-8,550/mt ($370-446/mt), compared to TRY 7,100-8,600/mt ($372-451/mt) recorded last 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 19.19