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 $0.33/mt to $280.45/mt cfr on Friday as mills booked scrap from the US, Europe and Azov-Black Sea basin.


Purchases continue in the Turkish ferrous scrap market with three new deals reported on Friday. An Izmir-based mill reached an agreement with a US supplier at $280/mt cfr for HMS 1&2 (80:20), at $285/mt cfr for shredded scrap and at $290/mt cfr for P&S 5ft on Feb 20. The cargo is due to be shipped by April 5.


On the same day, an Iskenderun-based mill bought 17,500mt of HMS 1&2 (75:25) and 17,500mt of bonus scrap at an average price of $284/mt cfr from Belgium.


Turkish mills are resisting the price increase for deep-sea scrap cargoes while indicating a high demand for short-sea cargoes, where they are accepting higher prices for the material. An exporter from Russia (Rostov-on-Don) sold A3 scrap at $280/mt cfr Marmara, while the same material was traded at $277/mt cfr Karadeniz a few days ago.

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