Local Turkish scrap prices revised upwards again

Some more Turkish mills have increased their domestic scrap prices today, December 2, while the revisions have been in the range of TRY 150-160/mt ($21-22/mt), depending on the grade. These revisions are the direct result of the ongoing rise in the deep sea segment, some market players say, adding that this step has been taken to guarantee local scrap flow. The dollar-based quotations of the other mills that have kept their prices in the local currency stable have also moved up by $1-2/mt since yesterday due to the slight appreciation of the Turkish lira against the dollar.

As a result, the general price range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from the levels of  TRY 2,410-2,830/mt ($307-360/mt) recorded yesterday to TRY 2,500-2,985/mt or $320-382/mt. Some market sources have drawn attention to the upper end of domestic scrap prices, stating that the upper end is now somewhat higher than deep sea price levels. At the beginning of last month (on November 3), domestic prices were in the range of TRY 2,150-2,455/mt or $253-289/mt.

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

$1 = TRY 7.82