More price rises in Turkish domestic scrap market

Since SteelOrbis’ report published on February 16, some Turkish mills have increased their domestic scrap purchase prices by TRY 100-200/mt or $7-15/mt. This move has come after their wait-and-see stance observed during the current week. A few mills had already announced a rise in their local scrap procurement prices earlier this week, and so they have kept their quotations stable since February 16, with a sideways movement in their dollar-based prices as the exchange rate has remained unchanged.  

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from the TRY 6,550-7,335/mt to TRY 6,550-7,395/mt, while prices on US dollar basis have been revised from $481-538/mt to $481-543/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 13.63