Turkiye: Imported ferrous scrap market gains momentum

Source: Steelmint Jun 12, 2023 10:00

Turkiye's imported scrap prices have witnessed an upward trend this week, with frequent deals reported from various origins including the UK/Europe, US, Baltic region, and South America.

However, the country's national currency, the Lira, has experienced a significant depreciation of nearly 8% against the US dollar after the recent Presidential election. Presently, the exchange rate stands at a record-low level of 23.39 Lira against $1. This depreciation poses a significant challenge for scrap importers as it increases