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) inched up by $0.08/mt to $252.56/mt cfr on Tuesday.


Buying activity has remained quite high in Turkey’s ferrous scrap market, but mills have resisted prices above $252/mt cfr for HMS 1&2 (80:20) from the US or Baltic region. Some suppliers have continued targeting higher prices, and a Baltic exporter agreed to close a deal on May 12. An Iskenderun-based integrated mill purchased 24,000mt of HMS 1&2 (80:20) for $252/mt cfr, 3,000mt of shredded scrap for $257/mt cfr, and 11,000mt of bonus material at $262/mt cfr from Latvia. The cargo is due to be shipped in June.


One more contract was reported in Turkey on Tuesday, but most market participants believe that it was done last week. A supplier from Finland sold 15,000mt of HMS 1&2 (80:20) at $251/mt cfr, 6,000mt of shredded scrap at $256/mt cfr, and 6,000mt of P&S 5ft at $261/mt cfr to a Marmara-based mill.


Purchase prices for shipbreaking scrap were flat at $235/mt delivered on Tuesday in Turkey’s domestic market.


Turkish rebar market almost stable


Daily local rebar spot prices slid by TRY10-20/mt ($1-3/mt) across Turkey and settled at TRY3,300-3,330/mt ex-works, including 18pc VAT, on Tuesday.


Exported rebar and billet prices in Turkey were unchanged Tuesday at $400-410/mt fob and at $370-380/mt fob, respectively.


($1 = TRY7.00)

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