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Kallanish Kallanish

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September, 27th 2020

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JAN 22
13:52

Turkish domestic scrap prices continue to fall

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Most Turkish steelmakers have further reduced their domestic scrap buying prices this week, Kallanish notes.

While most Turkish mills' demand for deep-sea scrap continues to be weak, some are seen to be inquiring for short-sea scrap. However, almost all Turkish mills have continued purchasing domestic scrap. Due to the availability of scrap in both domestic and import markets, Turkish mills' pressure on prices is strong.

A Turkish scrap yard tells Kallanish: “There is plentiful scrap supply. As a result, yards continue selling even at lower prices as they do not expect them to recover in the near term. We may see even lower prices soon.”

Current Turkish shipbreaking scrap prices are at $282/tonne delivered by truck, down $16/t on-week. Auto bundle scrap prices in the Aegean region decreased by TRY 20/t to TRY 1,600/t ($269/t).

Turkish mills’ auto bundle scrap buying prices are as follows, bearing in mind the Turkish lira was at 5.938 per dollar on 22 January.

Turkish mills' auto bundle scrap buying prices
Producer 15 January (TRY/tonne) 22 January (TRY/t) Change (TRY/t)
Erdemir 1,880 1,840  -40
İsdemir 1,740 1,680  -60
Kardemir 1,995 1,945  -50
Çolakoğlu 1,880 1,850  -30
Kroman 1,610 1,585  -25
Asil Çelik  1,830 1,820  -10
Diler 1,780 1,780    0
Mescier 1,670 1,670    0

Source: Company information

Note: Prices are delivered to customer and exclude VAT