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 $1.12/mt to $296.62/mt cfr on Friday after three more bookings to Iskenderun were reported.


Buyers remain active in the Turkish imported scrap market. On Nov 5, an Iskenderun-based mill purchased 13,000mt of HMS 1&2 (90:10) at $299/mt cfr, 3,500mt of shredded scrap at $301/mt cfr and 11,000mt of P&S 5ft at $306/mt cfr from a US supplier.


On the same day, another Iskenderun-based mill reached an agreement with a Belgian exporter at an average price of $296.75/mt cfr for 25,000mt of HMS 1&2 (75:25), 5,000mt of P&S 5 ft, and 5,000mt of new cuttings. 


A supplier from Russia’s Murmansk or Arkhangelsk region was also heard to have sold HMS 1&2 (95:5) at $304/mt cfr to a third Iskenderun-based mill.


Turkish steelmakers booked around 15 deep-sea ferrous scrap cargoes this week, according to market participants, fulfilling significant tonnage requirements of the material for December shipment.


The daily spot rebar prices in Turkey increased by TRY20-40/mt ($2-5/mt) to TRY4,570-4,650/mt ex-works, including 18pc VAT, on Friday amid the Turkish lira’s depreciation against the US dollar.


The daily exported rebar prices remained at $455-460/mt fob. Turkish mills are firm on pricing because their orders books are almost full. According to market sources, there was a new rebar sale to Asia, but further details were not available at the time of publication.


Billet prices in the Turkish domestic market went up to $430-435/mt ex-works, while some sales were reported at $425-430/mt ex-works during the first week of November.


($1 = TRY8.58)

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