Some Turkish mills revise their domestic scrap purchase prices

Some Turkish mills have revised their domestic scrap procurement prices over the past week, but no one definite price direction has been seen. One producer has increased its prices for local benchmark DKP grade scrap by just TRY 205/mt or $5/mt this week, while two others decided to cut prices by TRY 200/mt or $7/mt for the same grade. The other Turkish producers have kept their prices stable week on week, causing a $1/mt softening in dollar-based quotations. Despite the announced price changes, the general price range in the local market has remained stable.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap is still at TRY 11,800-13,300/mt in the local currency, while dollar-based prices have declined slightly by $1/mt to $344-387/mt due to the depreciation of the Turkish lira against the US dollar.

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 34.34