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) slid by $0.01/mt to $284.95/mt cfr on Monday in a quiet market.


However, Turkish steelmakers are yet to finish their purchase for September shipment. Market participants estimate a requirement of at least another 10 deep-sea cargoes before mill demand is fulfilled, prompting suppliers from the US and the Baltic region to try and achieve prices at above $285/mt cfr for HMS 1&2 (80:20).


Two deals, which concluded at the end of last week, were reported on Monday. In one transaction, an American exporter sold HMS 1&2 (80:20) at $285/mt cfr, shredded scrap at $290/mt cfr and bonus material at $295/mt cfr to an Izmir-based mill. In the second deal, a supplier from Sweden sold HMS 1&2 (80:20) at $285/mt cfr, shredded scrap at $290/mt cfr, and bonus material at $295/mt cfr to a Marmara-based mill.


Local rebar prices adjusted

Daily domestic rebar spot prices in Turkey increased by TRY30/mt ($4/mt) from the lower end of the previous range to TRY3,830-3,880/mt ex-works, including 18pc VAT, on Monday. Icdas decided to raise its local rebar prices by TRY200/mt ($27/mt) to TRY3,900/mt ex-works, including VAT.


Exported rebar prices in Turkey remained unchanged at $440/mt fob.


($1 = TRY7.29)

Leave a Reply

Your email address will not be published.