Uptrend of Turkey’s domestic scrap prices slows down but continues 

Over the past week, Turkish mills have raised their domestic scrap procurement prices further by TRY 50-500/mt or $2-27/mt. The increase is observed to be slower than in previous weeks, though upward pressure continues to come from the import scrap segment. Turkish mills are trying to control the average costs of their scrap inventories, and so some are focusing on local scrap as well as on the short sea segment. 

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from TRY 6,100-7,300/mt ($327-393/mt) to TRY 6,100-7,800/mt ($327-418/mt). Dollar-based quotations have also only increased from the upper end as the Turkish lira-US dollar exchange rate is almost unchanged week on 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 18.64