Most Turkish mills keep local scrap procurement prices stable

Since SteelOrbis’ report published on February 11, most Turkish mills have kept their domestic scrap purchase prices stable, with a $5-7/mt decrease in their dollar-based prices due to the slight depreciation of the Turkish lira against the major currencies. A source from one of these mills stated, “We are waiting to see the scrap flow before revising prices further.” On the other hand, SteelOrbis observes that some producers decided to push up their quotations further by TRY 50-150/mt, with the lower end a drop of $3/mt in dollar-based prices, while other dollar-based prices rose by $1-5/mt. 

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from the TRY 6,550-7,285/mt to TRY 6,550-7,335/mt, while prices on US dollar basis have been revised from $487-541/mt to $481-538/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