Turkish mills follow diverse price policies for domestic scrap

Since SteelOrbis’ report published on Monday, July 18, Turkish mills have followed diverse price strategies for their local scrap procurement prices. Some of them have decided to keep their prices stable over the week, with a $4-6/mt decline in their dollar-basis quotations due to the depreciation of the Turkish lira against the major currencies. Some of them decided to offset the weaker lira by increasing their prices by TRY 150-200/mt or $3-6/mt. Other mills, though, decided to follow the international scrap market and have lowered their domestic scrap procurement quotations by TRY 100-450/mt or $9-30/mt since Monday.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap have decreased from the lower end of TRY 6,200-8,100/mt ($354-463/mt) to TRY 6,100-8,100/mt ($344-457/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 17.72