Two Turkish mills increase local scrap procurement prices

Since SteelOrbis’ previous report published on September 21, local Turkish scrap market has mostly followed a stable trend in terms of prices, though two of Turkish mills have decided to increase their procurement prices on the weekend. The revisions are in the range of TRY 200-300/mt or $14-28/mt, depending on the grade. As Turkish lira continues to fluctuate against the major currencies over the past week, the dollar equations of the prices have been impacted accordingly. Other producers have kept their domestic scrap purchase prices stable week on week, leading dollar-based quotations to decrease $6-9/mt.

Despite the changes, the general range in the local Turkish scrap market for the benchmark DKP grade scrap is still in the range of TRY 3,520-4,240/mt, while on USD basis they have settled at $399-480/mt versus $409-490/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 8.83