Turkish domestic scrap prices mainly stable in local currency

A few Turkish mills have cut their domestic scrap purchase prices by TRY 50-200/mt or $19-33/mt, depending on grades in the past week. The other steelmakers have kept their quotations stable in the local currency, resulting in a $9-15/mt decrease in their dollar-based prices amid currency fluctuations. Market sources report that local scrap prices are mostly stable this week in line with ship scrap prices.

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained unchanged in the local currency at TRY 3,520-4,240/mt. The general price range on US dollar basis stands at $410-494/mt, versus $423-509/mt the previous week.

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 8.59