Turkey’s local scrap prices rise further

Since the last SteelOrbis report published on January 9, Turkey’s local scrap market has moved up in line with the rises observed in the import segment. Turkish mills are securing local scrap flow by raising domestic scrap purchase prices amid the firm stance observed in the import scrap market. Most Turkish mills have increased their quotations by a range of TRY 200-700/mt or $3-15/mt during this period. Unchanged TRY-based prices are matched by decreases of $1-2/mt in US dollar prices due to the depreciation of the Turkish lira. 

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up from TRY 13,900-16,350/mt to TRY 14,600-16,650/mt. Due to the fluctuations observed in the exchange rate, the dollar-based quotations have changed from $322-379/mt to $337-384/mt.

All above prices are for deliveries to customers and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.

$1 = TRY 43.36