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 $469.84/mt cfr on Monday in a quiet market.


Negotiations paused in Turkey after mills completed their August shipment needs in recent ferrous scrap bookings. One more sale from Belgium was heard at an average price of $475/mt cfr for a mixed composition cargo to a Karadeniz-based mill, in addition to deals reported last week, though further details of the transaction were not available at the time of publication.


In the short-sea segment, a sale from Tolyatti to Turkey was also heard at $462/mt cfr for HMS 1&2 (90:10), while offers from Ukraine were withdrawn due to active talks about the possibility of an export ban for ferrous scrap.


Turkish mills switched to steel product sales and their prospects early this week before they begin purchasing scrap for September shipment.


Spot rebar prices in the Turkish domestic market fell by TRY70-100/mt to TRY6,900-7,080/mt ex-works on Monday. Icdas reduced its local rebar prices by TRY270/mt to TRY7,020/mt ex-works Biga and TRY7,100/mt ex-works Istanbul. All these prices include 18pc VAT.



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