Turkey’s ship scrap market moves down on upper end

Two Turkish producers in the Izmir region have cut their ship scrap purchase prices by $5-9/mt today, April 17, with Turkey’s ship scrap purchase prices thus declining by $7/mt on the upper end to the range of $340-355/mt. This decline in prices was anticipated by all market players due to the ongoing downtrend seen in deep sea and short sea scrap prices. Izmir-based producers traditionally support their scrap input by buying ship scrap, but the previous upper end of ship scrap prices at $362/mt had become unnecessarily high as compared to seaborn cargoes this week.

In Turkey’s Izmir region, the ship scrap purchase prices of local steelmakers are as follows: 

 All the above prices are for delivery to mill by truck.