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 $206.93/mt cfr on Thursday as mills switched from deep-sea bookings to short-sea.


Several Turkish mills were looking for ferrous scrap cargoes from the Azov-Black Sea region. Bids were reported at $210/mt cfr minimum for short-sea material but offers were scarce due to anemic collection in Russia (Rostov-on-Don), Romania and Bulgaria, among other places, due to COVID-19’s impact and unattractive prices. As a result, Turkish mills are starting to accept material at higher prices. A Marmara-based mill purchased 3,000mt of HMS 1&2 (90:10) from Russia (Rostov-on-Don) at $224/mt cfr.


Turkish mills have postponed deep-sea cargoes bookings, but the availability of such cargoes is also limited, and firm offers are missing with suppliers expecting prices to rebound in the near term.


Local rebar spot prices increased by TRY10-50/mt ($1.50-7.50/mt) across Turkey and settled in the range of TRY2,960-3,020/mt ex-works, including 18pc VAT, on Thursday amid some trading activity.


Kardemir opened rebar sales at TRY2,967.70/mt ex-works, including 18pc VAT and sold 34,500mt. Moreover, the company announced 150X150 billet prices at TRY2,678.60/mt ex-works, including 18pc VAT for S235JR, and at TRY2,714/mt ex-works, including 18pc VAT for III-A and sold 60,500mt of the material. 


($1 = TRY6.64)

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