Turkey’s domestic scrap prices remain stable, a couple of mills cut prices

Turkey’s domestic scrap market has remained stable in Turkish lira-based prices. The downtrend observed in the import scrap market has caused some mills to cut their domestic scrap prices this week, by TRY 210-400/mt or $8-14/mt week on week. However, most Turkish mills have kept their purchase prices stable for local scrap, with a decline of $1-2/mt in their dollar-based prices resulting from the depreciation of the Turkish lira. Turkey’s import scrap prices have declined sharply over the current week and may exert pressure on the local market in the coming week.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap is still at TRY 11,800-13,150/mt in the local currency. Dollar-based prices have moved down to $350-390/mt week on week from $352-392/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 33.70