The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) rose by TRY59/mt ($8/mt) to TRY2,133/mt delivered on Monday and increased by TRY50/mt ($7/mt) to TRY2,019/mt delivered for extra grade scrap (equivalent to HMS 1&2 [85:15]).
Most Turkish mills raised purchase prices for domestic ferrous scrap amid better demand for it and because of higher prices for imported material. Moreover, steel product prices increased at the end of August.
Colakoglu Metalurji and Diler Demir Celik raised their purchase prices by TRY70/mt on August 28 and are now buying DKP grade at TRY2,155/mt delivered and at TRY2,100/mt delivered, respectively, and extra grade at TRY2,010/mt delivered and at TRY2,000/mt delivered, respectively.
The next day, Erdemir and Isdemir lifted their purchase prices by TRY65/mt, because of which they are now paying TRY2,200/mt delivered and TRY1,930/mt delivered, respectively, for DKP grade and TRY2,195/mt delivered and TRY1,925/mt delivered, respectively, for extra grade.
Kardemir, which has not revised its purchase price since August 11, kept buying DKP grade at TRY2,215/mt delivered and extra grade at TRY2,055/mt delivered.
Purchase prices for shipbreaking scrap in Izmir inched up by $1/mt to $276/mt delivered over the past week.
($1 = TRY7.36)