Turkey’s domestic scrap prices recover sharply amid tight import supply 

Over the past two weeks, Turkey’s local scrap procurement prices have increased sharply as mills have struggled to find the needed cargoes from the import segment. As a result, most Turkish mills have raised their domestic scrap procurement prices by TRY 300-950/mt or $16-51/mt. The relatively stable Turkish lira-US dollar exchange rate has helped producers. One mills has reduced its prices by TRY 100/mt or $6/mt in this two-week period, while it is also observed that the producer in question is refraining from ship scrap purchases.  

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has changed from TRY 5,900-6,950/mt ($317-373/mt) to TRY 6,100-7,300/mt ($327-393/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 18.63