No stop observed in the downtrend of domestic Turkish scrap prices

There is no stop observed in the downtrend of the domestic Turkish scrap purchase prices today, June 26. This is the fifth day in the market that prices have recorded a decline, while every Turkish mill has cut its domestic scrap purchase quotations one way or the other, depending on the grade. Today, half of the mills which are followed daily by SteelOrbis have reduced their prices by TRY 15-50/mt or $3-8/mt, while others have kept their prices stable on lira basis, resulting in a sideways to $1/mt fall in their dollar-based quotations.

Following the revisions in question, benchmark DKP grade scrap prices in Turkey are currently in the range of TRY 1,640-2,045/mt and the dollar equations are standing at $239-298/mt.

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

$1 = TRY 6.86