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) was unchanged at $280.45/mt cfr on Monday in a quiet market.


There were no firm bids or firm offers for ferrous scrap to report at the beginning of the week as negotiations paused after Turkish mills purchased significant tonnage for March shipment in February. 


Some market participants believe Turkish producers still require some scrap cargoes but buying activity will slow down this week.


The most recent transactions in Turkey were fixed from the US and Europe, as Davis Index reported on Friday. An exporter from the US sold HMS 1&2 (80:20) at $280/mt cfr, shredded scrap at $285/mt cfr, and P&S 5ft at $290/mt cfr. In another deal, a Belgian exporter traded 17,500mt of HMS 1&2 (75:25) and 17,500mt of bonus scrap at an average price of $284/mt cfr.

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