The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) increased by TRY75/mt ($12/mt) to TRY1,810/mt delivered on Monday.
The index for extra grade scrap (equivalent to HMS 1&2 (85:15)) rose by the same amount to TRY1,715/mt delivered.
Buying activity was high in the Turkish domestic market as mills tried to reduce scrap imports and prevent further price increases. Most producers raised purchase prices for local scrap in the week of Feb 18-21.
Colakoglu Metalurji and Diler Demir increased purchase prices by TRY70/mt to TRY1,805/mt delivered and TRY1,790/mt delivered, respectively, for DKP grade and to TRY1,690/mt delivered for extra grade.
Erdemir and Isdemir raised purchase prices further, by TRY100/mt, and announced new prices at TRY1,890/mt and TRY1,730/mt delivered, respectively, for DKP grade. For extra grade the two mills raised prices to TRY1,885/mt and TRY1,725/mt delivered, respectively.
Kardemir’s price increase was lower than other mills. It increased its prices by TRY40/mt to TRY1,895/mt delivered for DKP grade and to TRY1,705/mt delivered for extra grade.
The purchase prices for shipbreaking scrap in Izmir increased by $5/mt to $270/mt delivered.
($1 = TRY6.15)