TURKEY DOMESTIC STEEL SCRAP: Recovery in lira pushes auto bundle prices downward

Turkish domestic auto bundle scrap prices have inched downward over the past week thanks to the recent recovery in the value of the country’s currency, while ship scrap prices remained fairly stable, market participants told Fastmarkets on Monday April 19.

Domestic prices for long steel products and, therefore, auto bundle scrap in Turkey typically decrease in line with a stronger Turkish lira because mills buy most of their raw materials in dollars and sell their finished products for lira.

The Turkish currency...

Published

Cem Turken

April 19, 2021

13:50 GMT

Mugla