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 $3.65/mt to $349.95/mt cfr on Thursday after active negotiations resulted in new deals from the Baltic region.


A Marmara-based mill purchased HMS 1&2 (80:20) at $350/mt cfr, shredded scrap at $355/mt cfr, and bonus material at $360/mt cfr from Sweden. A Karadeniz-based mill bought a cargo from Denmark, that included HMS 1&2 (80:20), shredded scrap, and bonus material at an average price of $353/mt cfr. The cargo’s exact composition was not disclosed, but market participants consider that the price for HMS 1&2 (80:20) was close to $350/mt cfr.


An Izmir-based mill reached an agreement with an international trader at $345/mt cfr for 20,000mt of HMS 1&2 (80:20) and at $355/mt cfr for 4,000mt of bonus scrap. The cargo is due to be shipped from Estonia in January. The same mill also booked HMS 1&2 (80:20) at $346.50/mt cfr from a Baltic supplier, but further details of the contract were not available at the time of publication.


After these transactions were reported scrap exporters from the USA and the Baltic region raised offers to $355-360/mt cfr for HMS 1&2 (80:20). Scrap suppliers believe that such levels are achievable with rebar prices at around $520/mt ex-works and billet prices at around $500/mt cfr ex-works at the Turkish domestic market.


Turkey’s daily spot rebar prices increased by TRY20/mt ($2.50/mt) to TRY4,820-4,880/mt ex-works, including 18pc VAT, on Thursday amid further sales.


The daily exported rebar prices in Turkey moved to $510-515/mt fob on Thursday versus $510/mt fob on Wednesday.


($1 = TRY7.89)

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