Local Turkish scrap prices move down on dollar basis

As compared to the price levels recorded in SteelOrbis’ last report published on March 19, prices in the local Turkish scrap market have decreased on dollar basis due to the sharp depreciation of the Turkish lira against the major currencies. The fall is in the range of $8-57/mt, depending on the grade, while small decreases have been observed in the prices of those producers that kept their lira-based quotations stable or raised them, as can be seen in the table below.

Accordingly, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has decreased by TRY 100/mt on the upper end to TRY 2,750-3,420/mt, while the dollar-based quotations have moved from the range of $380-486/mt to $345-429/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 7.97