Turkish ship scrap prices reach $440/mt on upper end

Having started the current week with a significant price rise, the Turkish ship scrap market has reached $440/mt on the upper end today, March 2, with three Izmir-based Turkish mills increasing their ship scrap purchase quotations by $10-15/mt , while the others have decided to keep their prices stable. As a result, the general range of ship scrap purchase quotations in Turkey has increased from $420-425/mt to $420-440/mt. A market player in the region commented that the ship scrap market has followed the deep sea scrap segment with a little delay and, now with the prices increasing to the current levels, scrap flow can become normalized to an extent.

Aliaga - the only region in the country where ship scrapping is allowed in Turkey – is expected to remain an important scrapping hub, particularly for EU-flagged ships, in 2021. Kamil Önal, president of Turkish ship scrap producers association GEMISANDER, stated that the effects of the pandemic on cruise tourism is expected to continue in 2021 and that they anticipate that ships ending up in Aliaga for scrapping will create more than 800,000 mt of scrap. According to Mr. Önal, various types of ships totaling 118 were scrapped in Aliaga in 2020, including EU-flagged vessels.

In Turkey's Izmir region, the ship scrap purchase prices of local steelmakers are as follows: 

All the above prices are for delivery to mill by truck.