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Turkish domestic scrap prices rise in line with imports

Global Steel & Scrap Outlook: A Platts news and analysis feature

February 21, 2017 - By Cenk Can

Turkish steel mills' buying prices for dollar-denominated shipbreaking scrap and lira-denominated auto bundle (DKP grade) scrap rose in recent days along with mills' price hikes, in line with the ongoing strengthening trend in imported scrap prices.

One mill's latest purchase of HMS 1&2 (80:20) from the US last week reached as high as $283/metric ton CFR in, industry sources told S&P Global Platts on February 20.

Long steelmakers in western Turkey (Ege Celik, IDC, Cebitas, Ozkan) pulled up their buying prices for melting scrap from shipbreaking to $249-250/mt on February 20, a $10/mt week-on-week increase, Platts learnt.

Mills' buying prices for lira-denominated DKP grade scrap also strengthened further in recent days.

Analysis continues below...

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The Erdemir Group’s Eregli plant in northern Turkey began to buy DKP grade scrap at TRY 975 ($269)/mt as of February 16, up TRY 25 ($79)/mt, while the group's Iskenderun plant in southern Turkey was buying the same grade of scrap at TRY 965 ($266)/mt February 20, also notably up by TRY 45 ($12.50)/mt, on-week.

Buying prices for DKP at one of Turkey's largest EAF-based steelmakers, Colakoglu, plus alloy steel producer Asil Celik reached TRY 900 ($248)/mt and TRY 960 ($265)/mt respectively, as of February 17, Platts learnt.

Platts analyzes other steel and scrap products in this feature:

Scrap | HRC | Rebar | Semi-finished | News

Next commentary: Turkish steel mill raises domestic HDG price, HRC still flat

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