Turkish mills’ local scrap procurement prices follow diverse trends

Over the past week, it is observed that Turkish mills have followed diverse strategies regarding their domestic scrap procurement prices. Producers that have based their strategy on the softening of deep sea quotations have lowered their domestic scrap quotations by TRY 150-250/mt or $8-14/mt. Steelmakers that are aiming for faster scrap flow have increased their prices by TRY 70-370/mt or $3-19/mt. One Turkish mill has kept its prices stable, resulting in a sideways movement in its dollar-based quotations.  

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has changed from TRY TRY 6,700- 8,250/mt ($357-440/mt) to TRY 6,700- 8,500/mt ($357-452/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 18.79