New adjustments in local Turkish scrap market

Some of the main steel producers in Turkey have increased their domestic scrap purchase prices today, February 14, by TRY 20-50/mt or $2-6/mt depending on the buyer and the raw material grade. Sources report that some of the main Turkish steel producers’ local scrap purchase prices may be revised in line with the import scrap segment by the beginning of next week.

In summary, local producer Bastug decreased purchase prices for all scrap grades by TRY 30/mt on February 8 and has kept its local scrap prices stable since then. Kroman decreased purchase prices for all scrap grades (except P&S and HMS I) by TRY 30/mt on February 8, while its purchase prices of these grades (except P&S and HMS I) have increased by TRY 50/mt since then. The purchase prices of Izmir Demir Celik (IDC) for P&S and HMS I grades were set at TRY 1,620/mt and TRY 1,520/mt on the afternoon of February 13, with the P&S grade decreasing by TRY 90/mt and the HMS I grade decreasing by TRY 10/mt today. Ege Celik increased prices of all raw material grades (P&S, Bonus and HMS I) by TRY 15/mt on February 11 and by another TRY 30/mt on the afternoon of February 13 and has kept its prices stable today. Asil Celik has increased its P&S grade purchase price by TRY 20/mt over the week.

All above prices are for deliveries to customer and exclude VAT. 

$1 = TRY 6.05