Local Turkish scrap prices rise further

Since SteelOrbis’ report published on January 4, all Turkish mills have increased their domestic scrap procurement prices by TRY 250-800/mt or $1-42/mt. Meanwhile, Koc Metallurgy is still not accepting deliveries of local scrap to its yards. The fluctuation of the Turkish lira against major currencies has continued, leading mills to take steps by revising prices to offset the currency changes while trying to secure local scrap flow.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from TRY 5,150-6,475/mt to TRY 5,600-6,875/mt, while on US dollar basis prices have been revised from $386-486/mt to $404-496/mt. As a result, the dollar-based DKP prices have increased by a further $10-18/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 13.85