Local Turkish scrap market mostly stays stable, few mills change prices

Over the past week, the local Turkish scrap market has mostly remained stable, with a few mills adjusting their prices amid recent developments observed in the deep sea scrap segment. One Turkish mill has reduced its local scrap procurement prices by TRY 250-350/mt or $18-24/mt, while another has increased them by TRY 500/mt or $27/mt. However, the Turkish lira has continued its depreciation against the US dollar this week, and so the dollar-based quotations of the producers that kept their lira-based prices stable have declined by $2-3/mt.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from TRY 6,800-7,950/mt to TRY 6,800-8,450/mt, while prices on US dollar basis have been revised from $415-485/mt to $412-512/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 16.51