Turkish mills increase domestic scrap procurement prices

Since SteelOrbis’ report published on September 23, most Turkish mills have increased their domestic scrap procurement prices by TRY 50-650/mt to offset the depreciation of the Turkish lira against the major currencies. The TRY 50/mt increase in lira-based quotations was matched by a stable trend in dollar-based price, while the other rises in the local currency were accompanied by a $8-33/mt rise in dollar prices. A number of mills have kept their prices in liras stable over the past week, with their dollar prices down $2-3/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 of TRY 6,000-6,930/mt ($326-376/mt) to TRY 6,000-7,550/mt ($324-407/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 18.54