Turkey’s domestic scrap prices have been revised upwards, following the deep sea scrap segment. Most mills have adjusted their quotations upwards since SteelOrbis’ last report published on January 17. In this period, several mills increased their prices by TRY 200-500/mt, resulting in a $2-10/mt rise on US dollar basis. However, the depreciation of the Turkish lira against the US dollar created difficulties for other producers. Unchanged lira-based price levels of some mills resulted in $2-4/mt drop in their dollar prices. Meanwhile, one producer has cut its price by TRY 200-450/mt or $10-16/mt as compared to the levels recorded on January 17.
After the price revisions, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up by TRY 200/mt on the lower end to TRY 11,600-12,800/mt. The dollar-based quotations have changed from $320-360/mt to $322-356/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 35.97
