Turkish mills’ domestic scrap procurement prices follow different trends

Since SteelOrbis’ report published on March 18, Turkish mills have followed diverse strategies in terms of their local scrap procurement prices. Some of them have continued to withdraw recent increase, cutting their prices by a range of TRY 150-500/mt or $12-35/mt. Some have instead increased their prices by TRY 350-500/mt or $22-32/mt. Meanwhile, other steel mills have kept their quotations stable, resulting in a $1-2/mt decrease in dollar-based prices amid the slight depreciation of the lira.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved down on the upper end of TRY 7,575-10,150/mt to TRY 7,575-9,705/mt, while on US dollar basis prices have been revised from $511-685/mt to $510-653/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 14.86