Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) dipped by $0.47/mt to $252.44/mt cfr on Friday.


Turkish mills have continued booking ferrous scrap shipments for June and July, with five deals heard at the end of the week. A Canadian exporter sold 25,000mt of HMS 1&2 (90:10), 10,000mt of shredded scrap, and 15,000mt of P&S 5ft for an average price of $261/mt cfr to an Iskenderun-based mill.


A US supplier sold 20,000mt of HMS 1&2 (80:20) at $252.50/mt cfr to a Marmara-based mill. The same producer was heard to purchase HMS 1&2 (80:20) for $253/mt cfr and bonus material for $263/mt cfr from a St Petersburg supplier.


An exporter from the Baltic region closed a deal for HMS 1&2 (80:20) at $252.50/mt cfr, and for bonus material at $262.50/mt cfr with another Marmara-based mill.


A supplier from the UK reached an agreement with an Iskenderun-based mill at $252.50/mt cfr for HMS 1&2 (80:20), at $257.50/mt cfr for shredded scrap, and at $262.50/mt cfr for bonus material. The cargo totals 42,000mt.


Buying activity in Turkey has been quite high since Wednesday, with steelmakers purchasing a minimum 300,000mt of ferrous scrap.


Rebar traded at local market in Turkey

Daily domestic rebar spot prices climbed by TRY10-30/mt ($1-4/mt) across Turkey and settled at TRY3,270-3,320/mt ex-works, including 18pc VAT, on Friday. Although there were some sales during the second half of the week, the tonnages were small.


Kardemir sold almost 60,000mt of rebar for TRY3,260.34/mt ex-works, including 18pc VAT, with 25pc payment in advance, 25pc in 30 days, 25pc in 60 days, and the remainder in 90 days for orders of at least 500mt.


Icdas raised local rebar prices by TRY40/mt ($6/mt) to TRY3,290/mt ex-works, including 18pc VAT.


Export rebar prices in the Turkish market remained in the range of $405-415/mt fob.


($1 = TRY6.83)


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