The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) dropped by TRY32/mt ($5/mt) to TRY1,833/mt delivered on Monday, while the Index for extra grade scrap (equivalent to HMS 1&2 [85:15]) decreased by Try45/mt ($7/mt) to Try1,710/mt delivered.
Most Turkish mills announced lower purchase prices for the domestic material because they were trying to adjust them to currency fluctuations.
Colakoglu Metalurji reduced its purchase price by TRY35/mt to TRY1,815/mt delivered for DKP grade, and by TRY45/mt to TRY1,690/mt delivered for extra grade. Last week, the company revised prices on March 5 and March 9.
Diler Demir decreased its purchase price three times, which, in total, declined by TRY55/mt to TRY1,780/mt delivered for DKP grade, and by TRY65/mt to TRY1,670/mt delivered for extra grade.
Erdemir reduced its purchase price by TRY20/mt to TRY1,870/mt delivered for DKP grade, and to TRY1,865/mt delivered for extra grade on March 7. Isdemir’s purchase price declined by TRY30/mt to TRY1,700/mt delivered for DKP grade and to TRY1,695/mt delivered for extra grade.
Kardemir didn’t revise its prices and, since Feb 29 it has kept purchasing DKP grade for TRY1,975/mt delivered, as well as extra grade for Try1,815/mt delivered.
Purchase prices for shipbreaking scrap in the Izmir region are also stable at $268/mt delivered.
US$1 = TRY 6.13