Local Turkish scrap market moves down week on week

Over the past week, Turkish mills’ local scrap procurement prices have decreased sharply. All mills, except Kardemir, have announced revisions today, April 15, and prices have decreased by TRY 75-850/mt or $3-56/mt week on week. Kardemir’s decision to keep its domestic scrap quotations stable resulted in a $2/mt increase in dollar-based prices. The downward revision was expected amid the silence observed in the deep sea scrap segment and has also been observed in the ship scrap market during the week.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has decreased from TRY 8,450-9,780/mt to TRY 8,200-9,705/mt, while on US dollar basis prices have been revised from $573-664/mt to $560-662/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 14.65