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 $2.74/mt to $447.76/mt cfr on Friday following a sale from Europe.


An Iskenderun-based mill purchased HMS 1&2 (80:20) at $442/mt cfr from a large European supplier, though full details of the transaction were not available at the time of publication.


A deal was also closed in the Azov-Black Sea basin around two days ago when a Turkish mill bought HMS 1&2 (80:20) from Romania at $417/mt cfr. Still, the availability of short-sea cargoes to Turkey remains limited.


Demand for ferrous scrap was low this week as most Turkish mills have finished their purchases for September shipment. Bookings for October shipment are expected to begin next week after the Victory Day holiday on Monday.


Spot rebar prices in the Turkish domestic market were flat at TRY6,500-6,700/mt ex-works, including 18pc VAT, on Friday.



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