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) rose by $2.20/mt to $255.37/mt cfr on Friday.


One more ferrous scrap booking was confirmed in Turkey, as a Marmara-based mill purchased HMS 1&2 (80:20) for $255/mt cfr, shredded scrap for $260/mt cfr, and bonus material for $265/mt cfr from a Swedish supplier on Friday. The cargo is due to be shipped in August.


Turkish mills booked at least 150,000mt of scrap during the week amid renewed steel product trading in the domestic market. In particular, rebar sales reached around 100,000mt, in addition to some billet sales.


Local steel product prices higher than export

Daily domestic rebar spot prices in Turkey slid by TRY10/mt ($1/mt) from the upper end of the previous range to TRY3,340-3,410/mt ex-works, including 18pc VAT, on Friday. Most sellers stayed firm in pricing after active sales during the week.


Some local billet sales were heard mainly at $390-395/mt ex-works, and up to $400/mt ex-works in Iskenderun.


Export markets remained weak with rebar prices at $410-415/mt fob and billet prices at $385-390/mt fob.


($1 = TRY6.87)

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