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) increased by $2.20/mt to $302.20/mt cfr on Tuesday as buyers accepted higher prices in new bookings. Notably, these prices have reached the highest level in this year.


Turkish mills continue to purchase ferrous scrap for October shipments. A Marmara-based mill was heard closing a deal with a Danish supplier at $302/mt cfr for HMS 1&2 (80:20), at $307/mt cfr for shredded scrap and at $312/mt cfr for bonus material. An Iskenderun-based mill also bought 17,000mt of HMS 1&2 (95:5) from northern Russia at $310/mt cfr. According to market participants, there were some more sales made, of which further details were not available at the time of publication.


Negotiations are underway in the Turkish ferrous scrap market, while American and Baltic suppliers continue to offer HMS 1&2 (80:20) at $305-310/mt cfr.


Kardemir announce steel product prices

Turkish integrated steel mill Kardemir opened rebar sales at TRY4,053.30/mt ex-works, including 18pc VAT on Tuesday and has sold around 32,000mt, after which sales were closed. 


Moreover, the company announced 150×150 billet prices at TRY3,770.10/mt ex-works, including 18pc VAT for S235JR, and at TRY3,811.40/mt ex-works, including 18pc VAT for S420-B420. Sales amounted to around 75,000mt, according to market participants.


Daily domestic rebar spot prices in Turkey were unchanged at TRY4,050-4,080/mt ex-works, including 18pc VAT, on Tuesday. Exported rebar prices also held constant at $455-460/mt fob.


($1 = TRY7.49)

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