Local Turkish scrap market’s general lira-based price range remains stable

Turkey’s domestic scrap market has remained stable on Turkish lira basis over the past week despite the price adjustments announced by a few buyers. Two steel producers have announced increases in their scrap purchase prices during the current week amounting to TRY 50-300/mt, reflected as a decrease of $3/mt on the lower end on US dollar basis and an increase of $4/mt on the upper end since the Turkish lira has depreciated during the week. Other producers have kept their prices stable on lira basis, which resulted in a $4-5/mt decline in their dollar-based prices. Turkey’s domestic scrap market is shaped by regional needs and is following the deep sea scrap market very closely.

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, with dollar-based prices moving down from $324-362/mt to $322-360/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 35.42