The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) declined by TRY122/mt ($18/mt) to TRY1,658/mt delivered on Monday, while the index for extra grade scrap (equivalent to HMS 1&2 [85:15]) decreased by TRY89/mt ($13/mt) to TRY1,581/mt delivered.
All Turkish mills revised purchase prices for the domestic scrap several times last week and decided to cut prices significantly due to sluggish demand and a downtrend in the imported scrap market.
Colakoglu Metalurji reduced its purchase prices by TRY120/mt to TRY1,665/mt delivered for DKP grade and to TRY1,540/mt delivered for extra grade; Diler Demir decreased prices by TRY130/mt to TRY1,600/mt delivered for DKP grade and to TRY1,490/mt delivered for extra grade.
Erdemir lowered its purchase prices by TRY120/mt to TRY1,710/mt delivered for DKP grade and to TRY1,705/mt delivered for extra grade, while Isdemir decreased them by TRY70/mt to TRY1,600/mt delivered for DKP grade and to TRY1,595/mt delivered for extra grade.
Kardemir reduced its purchase prices, but to a lesser extent than other mills—by TRY60/mt to TRY1,865/mt delivered for DKP grade and to TRY1,705/mt delivered for extra grade.
Purchase prices for shipbreaking scrap in Izmir decreased sharply by $56/mt to $215/mt delivered last week amid weak buying activity.
($1 = TRY6.60)