Local Turkish scrap market prices increase on upper end

Although most Turkish mills have kept their domestic scrap purchase prices unchanged over the past two week, one BOF-based producer decided to announce a small price increase this week. As the producer represents the upper end of the local scrap price range, a slight price rise has been recorded. Turkey’s import scrap market is also moving sideways, but negative sentiment has been increasing ahead of the SteelOrbis Fall 2024 Conference & 91st IREPAS Meeting to be held on September 15-17 in Paris. The local scrap market is expected to follow any changes in deep sea scrap prices observed during the conference.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased by TRY 150/mt on the upper end to TRY 11,800-13,300/mt in the local currency. Dollar-based prices have moved down to $347-391/mt, from $347-386/mt recorded on August 29.

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 33.91