Local Turkish scrap market remains stable on lira basis

Turkey’s domestic scrap market has remained stable on Turkish lira basis over the past week, but a $2/mt drop on US dollar basis has been recorded due to the depreciation of the lira against the US dollar. Only one producer has announced a price change during the current week, a TRY 200/mt increase reflected as a $3/mt increase in the dollar price. Other producers have kept their prices stable, resulting in the $2/mt decline in the dollar price. The sideways movement of the local scrap market is in line with the current situation in the deep sea scrap segment. Turkey’s import scrap market indicated a positive start this week, but then settled and has been giving signals of sideways movement for now.

After the price revisions, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained at TRY 11,400-12,750/mt. The dollar-based prices have moved down from $326-365/mt to $324-362/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 35.18