Turkey’s domestic scrap prices move up sharply

Since SteelOrbis’ report published on Friday, October 22, some Turkish producers have increased their domestic scrap purchase prices by a significant margin of TRY 80-1,200/mt, with an increase of $5-122/mt increase in their dollar-based prices. The largest increase was made by a mill which had previously preferred to keep its domestic scrap procurement prices stable while the others were announcing rises. The other Turkish mills that kept their prices stable have decreased their dollar-based prices by $3/mt since the Turkish lira is still losing strength against the major currencies.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased from TRY 3,550-4,830 to $4,150-4,935/mt, while on US dollar basis they have settled at $429-510/mt, versus $369-503/mt, all compared to last Friday.

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 9.67