The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) increased by TRY72/mt ($10.50/mt) to TRY1,928/mt delivered on Monday and rose by TRY60/mt ($9/mt) to TRY1,816/mt delivered for extra grade scrap (equivalent to HMS 1&2 [85:15]).
Most Turkish mills raised purchase prices for domestic ferrous scrap amid better demand for it and because of higher prices for imported material. Deal prices for imported scrap have increased by around $9/mt over the past week even as steel product prices move upwards.
Colakoglu Metalurji decided to raise its purchase prices by TRY90/mt to TRY1,940/mt delivered for DKP grade and by TRY50/mt to Try1,795/mt delivered for extra grade on July 17. On the same day, Diler Demir Celik raised its purchase prices by the same amount to TRY1,890/mt delivered for DKP grade and increased them by TRY70/mt for extra grade to TRY1,790/mt delivered.
Erdemir lifted its purchase prices by TRY90/mt to TRY1,980/mt delivered for DKP grade and to TRY1,975/mt delivered for extra grade during the week, while Isdemir increased them by TRY100/mt to TRY1,835/mt delivered for DKP grade and to TRY1,830/mt delivered for extra grade.
Kardemir is the only mill, which has kept its purchasing price for DKP grade at TRY2,015/mt delivered and for extra grade at TRY1,855/mt delivered since June 27.
In Izmir, purchase prices for shipbreaking scrap jumped by $16/mt to $258/mt delivered over a week.
($1 = TRY6.86)