Over the past week, Turkey’s domestic scrap prices have continued to rise. Several Turkish mills have joined the upward movement and raised their prices by TRY 100-300/mt, resulting in a $1-8/mt rise in dollar-based prices amid the depreciation of the Turkish lira against the US dollar. The sideways movements of some mills’ Turkish-lira based prices were accompanied by a drop of $1-2/mt in their dollar prices week on week. As anticipated by SteelOrbis, Turkish mills’ interest in domestic scrap is increasing, while they are trying to stabilize the import scrap segment.
After the price revisions, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up by TRY 260/mt on the upper end to TRY 11,850-13,210/mt. The dollar-based quotations have changed from $327-358/mt to $326-363/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.
*Since domestic scrap purchase quotations of Ege Çelik were not shared last week, the weekly price change for this producer is not included in the table.
$1 = TRY 36.40
