Turkish mills’ domestic scrap prices increase once again due to weaker lira

Over the past two weeks, Turkish mills have increased their domestic scrap procurement prices once again. The main reason was to balance the depreciation of the Turkish lira against the major currencies, but the strategy was also followed to maintain a healthy scrap flow to mills’ yards. Most Turkish producers have announced an upward revision in the range of TRY 200-1,100/mt. Despite the upward revision in Turkish lira prices, dollar-based prices have changed in a wide range from minus $5/mt to plus $34/mt. Other mills have kept their prices stable on Turkish lira basis, resulting in a $7-14/mt decrease in dollar prices. 

The general range in the local Turkish scrap market for the benchmark DKP grade scrap is currently at TRY 7,900-9,750/mt ($303-374/mt), from TRY 7,900-9,650/mt ($334-408/mt) previously. 

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. Since domestic scrap procurement prices of Koç Metalürji was not included in the previous table, no price change has been shared for this producer. 

$1 = TRY 26.07