Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) rose by TRY71/mt ($10/mt) to TRY1,821/mt delivered on Monday, while the index for extra grade scrap (equivalent to HMS 1&2 [85:15]) increased by TRY67/mt ($10/mt) to TRY1,715/mt delivered.


Last week, most Turkish mills decided to raise their purchase prices for domestic scrap in order to spur its inflow because they had suspended bookings of imported material. This week, however, they may reduce purchase prices because they have achieved lower prices for imported scrap. In the most recent deal, Baltic-origin HMS 1&2 (80:20) was traded at $242/mt cfr Turkey.


Colakoglu Metalurji and Diler Demir both increased their purchase prices by TRY70/mt last week. They are paying TRY1,850/mt delivered and TRY 1,830/mt delivered, respectively, for DKP grade, and TRY1,725/mt delivered and TRY1,720/mt delivered, respectively, for extra grade.


Kardemir raised its purchase prices by TRY100/mt to TRY1,975/mt delivered for DKP grade and to TRY1,815/mt delivered for extra grade.


Both Erdemir and Isdemir haven’t revise their purchase prices since April 18. These mills have continued paying TRY1,620/mt delivered and TRY 1,570/mt delivered, respectively, for DKP grade, and TRY1,615/mt delivered and TRY1,565/mt delivered, respectively, for extra grade.


The decrease began on April 27 in the Izmir region, where mills cut purchase prices for shipbreaking scrap by $5/mt to $245/mt delivered.


($1 = TRY6.99)


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