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) decreased by $3.66/mt to $248.90/mt cfr on Wednesday.


Turkish mills began insisting on lower prices during negotiations with suppliers, as ferrous scrap availability and the number of offers increased. As a result, on May 12, a Marmara-based mill purchased HMS 1&2 (80:20) at $249/mt cfr, shredded scrap at $254/mt cfr and bonus material at $259/mt cfr from the US. The cargo is due to be shipped in the first half of June.


On May 11, another Marmara-based producer bought 12,000mt of HMS 1&2 (80:20) at $252/mt cfr and 18,000-20,000mt of shredded scrap at $257/mt cfr from another US supplier. This cargo is scheduled for June shipment.


Some short-sea deals were reported in the Turkish market on Wednesday, and prices softened in the most recent one as well. On May 12, a Romanian exporter sold HMS 1&2 (80:20) at $243/mt cfr Turkey, while the same material was traded at $245-246.50/mt cfr early in the week.


Rebar sales slowed down in Turkey

Daily domestic rebar spot prices declined by TRY20/mt ($3/mt) in Izmir, by TRY10/mt ($1/mt) in Karabuk and were flat in Istanbul and Iskenderun. As a result, the general price range was TRY3,280-3,330/mt ex-works, including 18pc VAT, on Wednesday.


Exported rebar and billet prices in Turkey remained at $400-410/mt fob and at $370-380/mt fob, respectively.


Kardemir opened its 150x150mm billet sales at TRY3,068/mt ex-works, including 18pc VAT for S235JR grade, and at TRY3,103.40/mt ex-works, including 18pc VAT for III-3 grade.


($1 = TRY6.98)

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