Some Turkish mills make further cuts in local scrap purchase prices

Since SteelOrbis’ last report published on Friday, April 16, some Turkish mills have reduced their domestic scrap prices by a margin of TRY 40-175/mt or $6-23/mt, depending on the grade. Other mills have kept their prices stable in the local currency, while reducing their dollar prices by $1-2/mt amid the depreciation of the Turkish lira against major currencies.

Despite the changes recorded, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained at TRY 2,950-3,730/mt, while the dollar-based quotations have moved from the range of $365-462/mt to $364-460/mt.

Following the significant rises announced in the first half of the current month, the total change observed in the local Turkish scrap market during April has been an increase of TRY 10-200/mt or $2-32/mt, depending on the grade.      

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 8.11