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) rose by $1.20/mt to $272.50/mt cfr on Tuesday as negotiations remained active in the Turkish ferrous scrap market.


Some negotiations are underway with no deals closed so far. Most American and Baltic suppliers remain firm in targeting $275/mt cfr Turkey and higher for HMS 1&2 (80:20), while Turkish mills are resisting prices at above $270/mt cfr.


Some producers are looking for short-sea scrap cargoes with target prices below $260/mt cfr for HMS 1&2 (80:20). Bids for Bulgarian material are being heard at $255/mt cfr.


A sale from the Baltic region, finalized on July 24, was reported on Tuesday where an Izmir-based mill purchased HMS 1&2 (80:20) at $270/mt cfr and bonus scrap at $280/mt cfr from a Latvian exporter. The 35,000mt-cargo is due to be shipped in mid-September.


Daily domestic rebar spot prices increased by TRY20-40/mt ($3-6/mt) to TRY3,540-3,580/mt ex-works, including 18pc VAT, on Tuesday. The exchange rate of Turkish lira to US dollar affected prices.


Exported rebar prices in Turkey were flat at $430/mt fob.


($1 = TRY6.97)

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