Turkey's domestic auto bundle scrap prices up on weaker lira; ship scrap steady

Turkey's domestic auto bundle scrap prices have increased due to a weakening lira, while ship scrap prices have been largely stable, market participants told Fastmarkets on Monday November 15.

The Turkish lira weakened further against the United States' dollar after the Turkish central bank cut the benchmark interest rate by 2% to 16% late in October.
The central bank was expected to cut the interest rate further in November, which resulted a large loss for the Turkish lira.

The lira was trading at 9.95564 lira to $1 on November 15, compared with 9.67881 lira to...

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