The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) decreased by TRY53/mt ($8/mt) to TRY1,780/mt delivered on Monday. The index for extra grade scrap (equivalent to HMS 1&2 [85:15]) decreased by TRY40/mt ($6/mt) to TRY1,670/mt delivered.
All Turkish mills cut their purchase prices for the domestic market after achieving lower prices for imported scrap. Moreover, there are more imported cargoes for sale.
Colakoglu Metalurji reduced its purchase prices by TRY30/mt to TRY1,785/mt delivered for DKP grade, and to TRY1,660/mt delivered for extra grade on March 13. That same day, Diler Demir decreased its purchase prices by a similar amount to TRY1,730/mt delivered for DKP grade, and to TRY1,620/mt delivered for extra grade.
Erdemir lowered its purchase prices by TRY40/mt to TRY1,830/mt delivered for DKP grade, and to TRY1,825/mt delivered for extra grade on March 14, while Isdemir lowered its prices by TRY30/mt to TRY1,670/mt delivered for DKP grade, and to TRY1,665/mt delivered for extra grade.
Kardemir reduced its purchase prices by TRY50/mt to TRY1,925/mt delivered for DKP grade, and to TRY1,765/mt delivered for extra grade on March 10.
Purchase prices for shipbreaking scrap in the Izmir region have moved up and down. Prices increased by $7/mt to $275/mt delivered during the first half of last week because demand was strong enough, however, prices then decreased to $271/mt delivered during the latter half of the week because imported scrap began to cheapen.
($1 = TRY6.41)