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) climbed by $1.04/mt to $478.94/mt cfr on Thursday after sales from the USA and the Baltic region were reported.


A Marmara-based mill purchased HMS 1&2 (80:20) at $480/mt cfr, and shredded scrap and bonus material at $490/mt cfr from the USA, while an Izmir-based mill bought HMS 1&2 (80:20) at $478/mt cfr and bonus scrap at $488/mt cfr from Latvia.


Business activity revived in the Turkish imported ferrous scrap market, with mills inquiring on cargoes for both February and March shipments. Scrap suppliers raised offers with Baltic and US exporters targeting $480-485/mt cfr and $490/mt cfr, respectively, for HMS 1&2 (80:20). A seller from northern Russia was heard offering HMS 1&2 (95:5) at $500/mt cfr Turkey.


The daily domestic spot rebar prices in Turkey climbed by TRY20/mt ($3/mt) from the lower end of the previous range to TRY5,470-5,580/mt ex-works, including 18pc VAT, on Thursday. Icdas reduced its local rebar price by TRY50/mt ($7/mt) to TRY5,560/mt ex-works, including 18pc VAT.


The daily exported rebar prices remained unchanged at $640-645/mt fob.


($1 = TRY7.39)

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