Turkish mills’ domestic scrap prices remain stable

Although some Turkish mills have reduced their local scrap prices over the past week, their general purchase prices on Turkish lira basis have remained stable. The drop announced by some mills is in the range of TRY 175-250/mt or $4-6/mt. The stability of Turkish lira-based prices has been accompanied by a sideways movement in dollar-based prices. As Turkey’s import scrap market has also been characterized by a stable price trend this week, the domestic scrap market is under no downward pressure. On the other hand, as Turkish mills’ steel sales remain sluggish and their profit margins are on the low side, no sharp recovery in the domestic scrap market is expected in the short term.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained at TRY 12,800-14,600/mt. Due to the slight fluctuations observed in the exchange rate, the dollar-based prices have also remained unchanged, at $309-353/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 41.39