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 $5/mt to $255/mt cfr on Friday.


The gap between bids and offers narrowed at the end of the week amid ongoing negotiations in the Turkish ferrous scrap market. Offers remain at a minimum of $260/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region despite some mills, who are short of the material, raising bids to $250/mt cfr. Some bookings are anticipated above these bid prices.


Purchases of short-sea scrap cargoes continue in Turkey with a supplier from the Adriatic Sea basin selling HMS 1&2 (75:25) at $245/mt cfr Marmara.


Turkish mills in Izmir raised purchase prices for domestic shipbreaking scrap by $5/mt to $250/mt delivered on Friday. As a result, prices increased by $45/mt, compared to the beginning of the week, on improved demand and more expensive imported material.


Local rebar spot prices slid by TRY10/mt ($1/mt) in Turkey, and settled at TRY3,220-3,270/mt ex-works, including 18pc VAT, on Friday, while export rebar prices increased by $10/mt to $410-420/mt fob.


($1 = TRY6.69)

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