Scrap purchase prices in Turkey

Scrap purchase prices in Turkey

Certain Turkish steel producers have decreased their domestic scrap purchase prices. The new prices are as per the following, to be effective as of August 10, 2004:

Product                              Price   

Extra  (equivalent HMS I)            TL 350'000/kg 
                                     (approx. $241/mt)
                                                                     
Grade 1(equivalent HMS I/II (70:30)) TL 320'000/kg 
                                     (approx.$221/mt)     
                                                       
Grade 2 (equivalent HMS I/II (50:50))TL 280'000/kg 
                                     (approx.$193/mt)
                                                        
Grade 3 (equivalent HMS II)          TL 235'000-240'000/kg 
                                     (approx. $162-165/mt)

Turnings                             TL 255'000/kg 
                                     (approx. $178/mt)

Prices are excluding VAT. US$ 1= TL 1'450'855