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) was unchanged at $505/mt cfr on Tuesday despite a fresh booking from the UK.


An Izmir-based mill purchased 15,000mt of HMS 1&2 (80:20) at $500/mt cfr and 5,000mt of shredded scrap at $520/mt cfr from the UK today.


A wide gap between bids and offers has resulted in scarce deals despite negotiations as well as Turkish mills’ need for ferrous scrap cargoes. Bids were heard at $500-505/mt cfr for premium quality material, while Baltic suppliers target a minimum of $510/mt cfr for HMS 1&2 (80:20) and US exporters expect $530-550/mt cfr.


Still, bookings are anticipated in the Turkish scrap market amid persisting demand and strong steel product sales.


Spot rebar prices in the Turkish domestic market increased by TRY20-30/mt to TRY7,300-7,350/mt ex-works on Tuesday. Icdas raised its local rebar prices by TRY80/mt to TRY7,380/mt ex-works Biga and TRY7,460/mt ex-works Istanbul, while Bastug Metalurji lifted them by TRY100/mt to TRY7,500/mt ex-works. All domestic prices include 18pc VAT.


In the export rebar market, a new transaction to Canada was heard at $780/mt fob for large cargo. Besides, additional rebar tonnages were sold to Latin America at $790-800/mt fob. Most mills raised their offers to $800-810/mt fob this week.


Some billet sales were heard at $730-740/mt ex-works in the Turkish market on Tuesday.


($1 = TRY8.36)

Leave a Reply

Your email address will not be published.