Turkish mill Kardemir raises its domestic scrap purchase price

Turkish mills Kardemir has announced an increase in its domestic scrap purchase prices today, July 12, raising them by $22/mt.  As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from the range of TRY 3,820-4,415 to TRY 3,820-4,530/mt, while the dollar-based quotations have moved from $441-509/mt to $445-527/mt. The increase observed in the dollar equivalents is the result of the Turkish lira gaining strength against the US dollar from 8.67 to 8.59.

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 8.59