Only a few Turkish mills change local scrap procurement prices

Over the past week, only a few Turkish steel producers have changed their domestic scrap procurement prices. Two mills in Turkey’s Iskenderun region have reduced their prices by TRY 100-1,000/mt or $6-53/mt week on week, depending on the grade.  One Turkish producer has increased its domestic scrap procurement price by TRY 160/mt or $7-8/mt, while some have kept them unchanged. The unchanged Turkish lira-based prices resulted in an almost $1/mt decline in dollar-based quotations due to the fluctuation of the exchange rate.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap is currently at TRY 7,200-8,600/mt ($379-453/mt), from 7,650-8,600/mt ($403-454/mt) recorded last week.

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 19.00