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 $0.25/mt to $445.75/mt cfr on Thursday after buyers remained firm on low bids.


Some deals are anticipated for September and October shipment as business activity revived in the Turkish imported scrap market this week. Several mills are negotiating with Baltic and European suppliers, while US exporters are not offering material as they are focused on domestic trade. Still, bids for HMS 1&2 (80:20) from the Baltic region remained at $445/mt cfr and lower.


A sale from Russia was heard at $444.50/mt cfr for HMS 1&2 (95:5) to Turkey, though it was done for a small volume of 6,000mt.


A new transaction was fixed in the Azov-Black Sea basin, where a Turkish mill bought HMS 1&2 (90:10) from Bulgaria at $424/mt cfr. Some other steelmakers were also negotiating purchases of short-sea cargoes.


Spot rebar prices in the Turkish domestic market decreased by TRY30/mt to TRY6,370-6,570/mt ex-works, including 18pc VAT, on Thursday, while exported rebar prices were unchanged at $680-690/mt fob actual weight.



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