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 $3.89/mt to $413.75/mt cfr on Monday as suppliers targeted higher prices.


Turkish mills are expected to continue ferrous scrap purchases this week as they require cargoes for March and April shipment. As a result, sellers plan to achieve further price increases. US and Baltic exporters, particularly, are targeting $420/mt cfr for HMS 1&2 (80:20).


Scrap suppliers are bullish on active buying at alternative outlets including Egypt and Saudi Arabia.


The daily domestic spot rebar prices in Turkey were unchanged at TRY5,020-5,070/mt ex-works, including 18pc VAT, on Monday, while the daily exported rebar prices continued to vary in the range of $600-605/mt fob.


Icdas increased its local rebar prices by TRY10/mt ($1/mt) and opened sales in Biga at TRY5,040/mt ex-works, including 18pc VAT, and in Istanbul at TRY5,120/mt ex-works, including 18pc VAT.



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