Turkish domestic scrap market shows diverse trends

Over the past week, Turkish mills have followed diverse price policies for their domestic scrap procurement prices. Some have reduced local scrap procurement prices by TRY 40-615/mt or $15-49/mt, while one mill has increased its price by TRY 200/mt. However, the Turkish lira continued its depreciation against the US dollar this week, while the dollar-based quotations of the producers that kept their lira-based prices stable have declined by $11-15/mt.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has decreased on the lower end from TRY 6,800-8.450/mt to TRY 6,750-8,450/mt, while prices on US dollar basis have been revised from $412-512/mt to $397-496/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 17.02