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 $1.06/mt to $252.91/mt cfr on Thursday amid a flurry of deals.


Turkish mills resumed ferrous scrap bookings just after the holidays with some producers completing their procurement for June shipments and others starting their July shipment purchases. 


On Thursday, an exporter from the US traded 20,000mt of HMS 1&2 (90:10) and 5,000mt of shredded scrap at an average price of $256/mt cfr to an Iskenderun-based mill. The cargo is due to be shipped before June 25. In another deal, a supplier from Latvia sold 18,000mt of HMS 1&2 (80:20) at $253/mt cfr, 3,000mt of shredded scrap at $258/mt cfr and 3,000mt of bonus material at $263/mt cfr to an Iskenderun-based integrated steel mill for July shipment.


On May 27, an exporter from the US finalized a deal with an Izmir-based mill at $253/mt cfr for HMS 1&2 (80:20), at $258/mt cfr for shredded scrap and at $263/mt cfr for bonus material. The 30,000mt cargo is scheduled for June shipment. On the same day, a Lithuanian supplier closed a deal with another Izmir-based mill at $252/mt cfr for HMS 1&2 (80:20) and at $262/mt cfr for bonus scrap. The cargo is due to be shipped in the first half of July.


Some transactions were also fixed in the Azov-Black Sea basin. Two HMS 1&2 (80:20) cargoes of 8,500mt each, from Romania, changed hands at $243/mt cfr Turkey. 


One more contract was discussed in the Turkish market on Thursday. Its details were not disclosed, but Davis Index learnt that the deal was signed during the previous buying spree on May 22-23. An Izmir-based mill bought HMS 1&2 (75:25) at $247/mt cfr from Germany.


Billet sales revive in Turkey

Kardemir opened 150x150mm billet sales on Thursday at TRY2,938.20/mt ex-works, including 18pc VAT for S235JR grade, and at TRY2,973.60/mt ex-works, including 18pc VAT for S420-B420 grade. Sales totaled 96,000mt because of good demand and attractive prices.


Other Turkish mills announced billet prices at $375-380/mt ex-works versus $375/mt ex-works earlier. Export billet rates were in the same range as domestic prices.


Rebar sales in Turkey remain slow. Daily domestic rebar spot prices slid by TRY10/mt ($1/mt) in Iskenderun, but were flat in other regions, so on Thursday prices settled at TRY3,240-3,290/mt ex-works, including 18pc VAT.


Turkish mills raised export prices for rebar to $405-415/mt fob from $400-405/mt fob earlier.


($1 = TRY6.82)

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