Local Turkish scrap market moves up with new revisions

As of today, February 23, most Turkish steel producers have kept their scrap purchase prices stable, with in a $3/mt decrease in their dollar-based quotations, amid the depreciation of the Turkish lira against major currencies, while some Turkish mills have increased their domestic scrap prices by TRY 100-150/mt or $11-19/mt, both depending on the buyer and the grade.

Accordingly, the general purchase price range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from TRY 2,650-3,125/mt to TRY 2,650-3,245, while the dollar-based quotations have followed diverse trends on the lower and upper ends from the range of $377-445/mt to $375-459/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 7.07