Turkey’s domestic scrap procurement prices increase significantly

Since SteelOrbis’ report published on March 1, huge rises on the deep sea scrap segment has pushed up Turkish mills’ domestic scrap procurement prices by TRY 100-1,000/mt. Due to the Turkish lira’s depreciation against the major currencies, the lower end of the rise has caused a $3/mt decline in one mills’ prices’ dollar equations, while the rest resulted in $2-61/mt increase on dollar-basis. Over the course of three days, all Turkish mills have increased their quotations and some state that there is no peak expected in the short term.  The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved from the TRY 6,700-7,605/mt to TRY 6,900-8,205/mt, while on USD basis they have been revised from $481-546/mt to $486-577/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 14.21