Most Turkish mills increase domestic scrap prices

Since SteelOrbis’ report published on April 29, most Turkish mills have increased their domestic scrap purchase prices by TRY 150-450/mt, depending on the grade, with a $14-50/mt increase in their dollar-based prices. A few mills have kept their prices stable in the local currency, with a $4-5/mt decrease in their dollar prices. The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up from TRY 2,950-3,730/mt to TRY 3,400-3,775, while the dollar-based quotations have increased from the range of $359-454/mt to $409-454/mt. The upward revisions in the local Turkish scrap market have been made in line with the increases observed on the deep sea scrap side, and it is safe to say Turkey’s import scrap market is expecting a further rise in prices.

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 no price level was shared for Bastug in SteelOrbis’ report published on April 29, a price change has not been posted for the mill in the table above.

$1 = TRY 8.31