The weekly Davis Index for DKP scrap (equivalent to auto bundles) in Turkey dropped by TRY100/mt ($13.50/mt) to TRY3,292/mt ($445/mt) delivered on Monday due to weak demand for the material and a slump in the imported ferrous scrap market.
Most mills cut their purchase prices for domestic scrap several times last week as local rebar prices declined. Colakoglu Metalurji, Erdemir, and Isdemir decreased their purchase prices for DKP grade by TRY100/mt to TRY3,425/mt delivered, TRY3,475/mt delivered and TRY3,265/mt delivered, respectively.
Diler Demir Celik reduced its purchase price for the same grade more significantly – by TRY130/mt to TRY3,220/mt delivered over a week, while Kroman and Kardemir kept them unchanged at TRY3,305/mt delivered and TRY3,525/mt delivered, respectively.
Purchase prices for shipbreaking scrap in the Izmir region dropped by $30/mt to $430/mt delivered over the week amid bearish market.
($1=TRY7.39)