The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) decreased by Try33/mt to Try1,795/mt delivered on Monday. The Index decreased by Try36/mt to Try1,688/mt delivered for extra grade (equivalent to HMS 1&2 (85:15)).
The declines were driven by lower prices for imported ferrous scrap in the Turkish market and weak steel product sales.
Colakoglu Metalurji decided to cut purchase prices by Try30/mt to Try1,820/mt delivered for DKP grade and to Try1,690/mt delivered for extra grade on Jan 24. On the same day, Diler Demir decreased purchase prices for DKP grade by Try10/mt to Try1,770/mt delivered, and by Try20/mt to Try1,660/mt delivered for extra grade.
Erdemir also reduced its purchase prices by Try50/mt to Try1,810/mt delivered for DKP grade and to Try1,805/mt delivered for extra grade, while Isdemir decreased them by Try60/mt to Try1,650/mt delivered for DKP grade and to Try1,645/mt delivered for extra grade. Both mills revised prices twice—on Jan 21 and Jan 27—recently.
Kardemir lowered its purchase prices more than others (by Try90/mt), after keeping them unchanged for more than a month. New prices were announced on Jan 27 at Try1,905/mt delivered for DKP grade and at Try1,715/mt delivered for extra grade.
In Izmir, purchase prices for shipbreaking scrap have remained unchanged at $282/mt delivered since Jan 20.
US$1 = 5.95 TRY as on Jan 27, 2020