Fastmarkets’ weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,850 ($313-351) per tonne delivered on Monday, narrowing downward from TRY1,650-1,940 per tonne on November 19.
Long steel producers IDÇ and Habas reduced their buying prices for the material to TRY1,675 and TRY1,690 per tonne delivered respectively, while long and flat steel producer Çolakoglu cut its price to TRY1,850 per tonne.
Long steel mills Ege Çelik and Özkan reduced their buying price to TRY1,730 per tonne delivered.
“The finished steel market is very weak and mills do not want to buy much scrap before selling finished products. The falling prices of steel and billet in Asia are affecting the market badly,” a Turkish mill source said.
Ship scrap prices have gone down in line with auto bundle prices during the past seven days.
Three steel mills reduced their buying prices for the material to $320 per tonne delivered. Only one steel mill was buying the material at $335 per tonne.
Fastmarkets’ weekly price assessment for Turkish domestic melting scrap from shipbreaking was $320-335 per tonne delivered on November 26, widening downward from last week’s $328-335 per tonne delivered.
Turkish domestic scrap prices have continued to weaken over the past week due to limited demand and falling finished steel values, sources said on Monday November 26.