Turkey’s domestic scrap purchase prices rise further amid lively demand

Turkish mills have increased their domestic scrap procurement prices over the past week by TRY 100-800/mt or $1-17/mt, while stable lira-based prices have been matched by a $2/mt drop in dollar-based quotations. Turkish mills have raised their local scrap prices as the Turkish lira continues to lose strength against the US dollar and as they try to secure scrap flow to their yards. This firm trend of prices is expected to continue for a while due to the lower availability observed on the deep sea scrap side.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up to TRY 13,900-15,650/mt. Due to the fluctuations observed in the exchange rate, the dollar-based quotations have moved up from $330-368/mt to $328-369/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 42.44