The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) increased by TRY72/mt ($10/mt) to TRY2,040/mt delivered on Monday and rose by TRY73/mt ($10/mt) to TRY1,928/mt delivered for extra grade scrap (equivalent to HMS 1&2 [85:15]).
Most Turkish mills followed the trends set by imported scrap prices and raised purchase prices for domestic ferrous scrap amid better demand for it. Deal prices for imported scrap have increased by around $10/mt from the beginning of August.
Colakoglu Metalurji increased its purchase prices by TRY70/mt to TRY2,045/mt delivered for DKP grade and to TRY1,900/mt delivered for extra grade on August 4. The next day, Diler Demir Celik raised its purchase prices by the same amount to TRY1,990/mt delivered for DKP grade and to TRY1,890/mt delivered for extra grade.
Erdemir lifted its purchase prices by TRY70/mt to TRY2,095/mt delivered for DKP grade and to TRY2,090/mt delivered for extra grade on August 5, while Isdemir raised them by TRY80/mt to TRY1,965/mt delivered for DKP grade and to TRY1,960/mt delivered for extra grade.
Kardemir followed suit and announced an increase by TRY85/mt to TRY2,180/mt delivered for DKP grade and to TRY2,020/mt delivered for extra grade.
In Izmir, purchase prices for shipbreaking scrap rose by $5/mt to $275/mt delivered over the past week.
($1 = TRY7.29)