Turkish mills’ local scrap purchase prices increase again on lower end

With two Turkish mills increasing their local scrap procurement prices over the past week by TRY 400-800/mt or $9-19/mt, the domestic scrap price range has increased on the lower end. Turkish lira-based prices which have remained stable have been matched by sideways movement or a $1/mt drop in dollar-based prices. Turkish mills’ interest in local scrap remains lively as they are failing to find as many offers as they would like in the import segment. Turkey’s local scrap market is expected to remain firm and has some potential to move up in the coming days.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up from TRY 13,900-15,650/mt to TRY 14,500-15,650/mt. Due to the fluctuations observed in the exchange rate, the dollar-based quotations have changed from $328-369/mt to $341-368/mt.

All above prices are for deliveries to customers and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.

$1 = TRY 42.50