The weekly Davis Index for Turkish DKP scrap (equivalent to bonus grade) increased by TRY130/mt ($19/mt) to TRY1,750/mt delivered on Monday, while the index for extra grade scrap (equivalent to HMS 1&2 [85:15]) rose by TRY129/mt ($18.50/mt) to TRY1,648/mt delivered.
Prices for domestic scrap continue to trend up in the Turkish market due to demand and because domestic scrap remains cheaper than imports. The most recent transactions were fixed at $256-256.50/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region last week.
Colakoglu Metalurji and Diler Demir, both raised their purchase prices by TRY140/mt. Now these mills are paying TRY1,780/mt delivered and TRY 1,760/mt delivered, respectively, for DKP grade and TRY1,655/mt delivered TRY1,650/mt delivered, respectively, for extra grade.
Erdemir increased its purchase prices by TRY70/mt to TRY1,620/mt delivered for DKP grade and TRY1,615/mt delivered for extra grade, while Isdemir hiked them by TRY120/mt to TRY1,570/mt delivered for DKP grade and TRY1,565/mt delivered for extra grade.
Kardemir raised its purchase prices up by TRY120/mt to TRY1,875/mt delivered for DKP grade and TRY1,715/mt delivered for extra grade and announced it would raise them by another TRY100/mt from Tuesday onwards.
Purchase prices for shipbreaking scrap in Izmir remained unchanged at $250/mt delivered.
($1 = TRY6.95)