Local Turkish scrap market softens on upper end

Today, August 18, some Turkish mills have decreased their domestic scrap purchase prices by TRY 50-200/mt, depending on grades, resulting in $10-29/mt reduction in their dollar-based quotations. Other steelmakers have just kept their quotations stable, which resulted in a $3-5/mt decrease in their dollar-based prices. According to market players, collection activities in the local Turkish scrap market have started to slow down recently.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved down on the upper end from TRY 3,670-4,430/mt to TRY 3,670-4,305/mt, while the dollar-based quotations moved from $437-528/mt to $433-508/mt. The fall recorded in the dollar equivalents is the result of the depreciation of the Turkish lira against the US dollar.

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 8.47