Turkish domestic scrap market follows general sharp uptrends

Since SteelOrbis’ report published on March 4, the local Turkish scrap market has also followed the overall sharp uptrends of steel and scrap prices, indicating significant price rises. As almost all Turkish producers have increased their domestic scrap procurement prices by TRY 500-2,350/mt by today, March 10, their dollar prices have also moved up, by $10-137/mt. Only one mill has kept its price stable since March 4, with a $20-22/mt decrease in its dollar price amid the depreciation of the Turkish lira against the US dollar.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved from TRY 6,900-8,205/mt to TRY 7,575-9,850/mt, with the dollar prices moving from $486-577/mt to $511-664/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 14.83