The weekly Davis Index for DKP scrap (equivalent to auto bundles) in Turkey inched up by TRY1/mt to TRY3,198/mt ($391/mt) delivered on Monday after only one mill raised its purchase price.
Kardemir announced new purchase prices for DKP grade at TRY3,470/mt delivered on Mar 27, increasing it by TRY50/mt, while the other steelmakers kept their purchase prices at previous levels.
Colakoglu Metalurji, Diler Demir Celik, and Kroman continue buying DKP grade at TRY3,340/mt delivered, TRY3,110/mt delivered, and TRY2,925/mt delivered, respectively. Erdemir and Isdemir have been paying TRY3,385/mt delivered and TRY3,245/mt delivered, respectively, for the grade since Mar 19.
Purchase prices for shipbreaking scrap in the Izmir region decreased by $8/mt to $392/mt delivered over the week.
Demand for ferrous scrap began improving in Turkey at the end of March because of which, domestic prices are expected to rebound in the near term.
($1=TRY8.18)