Turkish integrated steel mills raise domestic scrap purchase prices

Turkey’s three integrated steel mills Erdemir, Kardemir and İsdemir have increased their domestic scrap purchase prices since SteelOrbis’ last report published on April 1. Their upward revision has amounted to TRY 90-110/mt or $14-17/mt, though it is observed that Isdemir decided to cut its prices for extras by TRY 50/mt or $3/mt. Other Turkish mills have kept their quotations on lira basis stable, though due to the ongoing appreciation of the local currency this move has resulted in a $3/mt rise in the dollar equivalents of their prices. 

Accordingly, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from TRY 2,950-3,620/mt to TRY 2,950-3,730/mt, while the dollar-based quotations have moved up from $361-443/mt to $363-459/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 8.12