Turkish domestic scrap purchase prices continue to fall

Today, March 20, the downtrend of Turkish mills’ domestic scrap purchase prices has continued. Following the TRY 15-70/mt or $5-13/mt fall recorded yesterday, March 19, today most mills have revised their prices down by a further TRY 10-90/mt. This has mostly been reflected as a $2-13/mt decrease in their dollar-based prices amid the slight appreciation of the Turkish lira against the US dollar, though some dollar-based quotations have remained stable.

In the meantime, the mills that have kept their Turkish lira prices stable have raised their scrap purchase prices on US basis by $1/mt.

Accordingly, the Turkish mills that decided to change their domestic scrap purchase prices today have reduced them by TRY 20-200/mt, depending on the grade, as compared to the levels shared in SteelOrbis’ report published on Friday, March 13, with their scrap purchase prices on US dollar basis falling by $10-39/mt in the same period. Meanwhile, the mills that have not changed their domestic scrap purchase prices on Turkish lira basis in the past week have reduced their dollar-based purchase prices by $7-9/mt in the same period due to the fluctuations in the Turkish lira-US dollar exchange rate.

All above prices are for deliveries to customer and exclude VAT,  

$1 = TRY 6.49