Turkey’s domestic scrap prices mostly move down

Since SteelOrbis’ report published on October 28, most Turkish mills have reduced their domestic scrap procurement prices. The downward revision has been in the range of TRY 100-400/mt or $6-22/mt. The only increase observed in this period of time was by TRY 200/mt or $10/mt made by one producer. The pessimistic outlook in the deep sea and short sea scrap segments are compromising the local scrap market and makes it vulnerable to Turkish mills’ lower price ideas. 

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has softened from TRY 6,050-7,350/mt ($325-395/mt) to TRY 6,050-6,950/mt ($325-373/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 18.62