Local Turkish scrap purchase prices move down further

Today, September 3, some Turkish mills have decreased their domestic scrap purchase prices by TRY 40-100/mt or $6-13/mt, depending on grades. Other steelmakers have just kept their quotations stable, resulting in a $1/mt decline in their dollar-based prices. The changes in dollar-based quotations result from the depreciation of the Turkish lira against the US dollar. An Iskenderun-based mill that kept its prices stable this week is still out of the market and is not accepting domestic scrap, though it is expected to resume purchases on Monday, August 6.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has decreased from TRY 3,530-4,305/mt to TRY 3,520-4,265, while dollar-based quotations moved from $426-520/mt to $424-514/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 8.30