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) decreased by $3.07/mt to $239.43/mt cfr on Thursday after sales from Europe were reported.


An Iskenderun-based integrated steel mill purchased 17,000mt of HMS 1&2 (80:20) at $236/mt cfr and 7,000mt of bonus material at $246/mt cfr from the Netherlands on April 29. The cargo is due to be shipped in the first half of June.


One more sale was reported on Thursday, but the deal was struck on April 27. Under this sale, another Iskenderun-based mill bought 17,000mt of HMS 1&2 (80:20) at $238/mt cfr from the UK. The cargo is due to be shipped in May.


Turkish importers have insisted on lower scrap prices due to weak steel product sales and have achieved them as availability of scrap improves.


Purchase prices for shipbreaking scrap in the Turkish domestic market decreased by $5/mt to $225/mt delivered on Thursday.


Demand for Turkish steel products sluggish

Local rebar spot prices dropped by TRY10-20/mt ($1-3/mt) across Turkey and settled at TRY3,230-3,250/mt ex-works, including 18pc VAT, on Thursday amid slow sales.


Export rebar and billet prices are unchanged at $400-410/mt fob and $360-370/mt fob, respectively.


($1 = TRY6.99)

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