Local Turkish scrap market starts to move up

Since SteelOrbis’ report published on June 4, most Turkish mills have raised their local scrap purchase prices by TRY 100-225/mt, depending on the grade. The appreciation of the Turkish lira against the US dollar has caused equivalent dollar prices of the mills in question to surge by $14-29. Meanwhile, the mills that have kept their lira-based prices stable in this period have raised their dollar-prices by $3/mt.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up on the lower end from TRY 3,620-4,280 to TRY 3,800-4,280/mt, while the dollar-based quotations have moved from $418-494/mt to $442-498/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.

*Since Cansan’s prices were not shared in the previous report, no change in its quotations were given in the table above.

$1 = TRY 8.60