Local Turkish scrap market sees another round of price rises

Before the end of the current week, some Turkish steelmakers have increased their domestic scrap purchase prices by TRY 40-155/mt depending on the buyer and the grade, accompanied by a $3-17/mt rise in their dollar-based quotations. Meanwhile, the dollar-based quotations of the other mills that have kept their prices in the local currency stable today, December 11, have decreased by $2-3/mt as the Turkish lira has lost some strength against the dollar. The upward revisions in the market are a direct outcome of the increasing trend on the import scrap side, market sources state.

Despite the above revisions, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained stable in the range of TRY 2,555-3,105/mt, but has decreased on dollar-basis by $2/mt to $324-394/mt, as compared to November 9.

All above prices are for deliveries to customer and exclude VAT, 

$1 = TRY 7.89