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) decreased by $3.62/mt to $289.13/mt cfr on Thursday after a sale from Sweden.


Turkish mills resumed ferrous scrap purchases after achieving lower prices. An exporter from Sweden sold 14,000mt of HMS 1&2 (80:20) at $292/mt cfr, 12,000mt of shredded scrap at $297/mt cfr, and 10,000mt of bonus material at $302/mt cfr to a Marmara-based mill at the beginning of this week.


Considering this transaction, Turkish mills decreased bids lower on Thursday, to $280-285/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.


In the Turkish domestic market, purchase prices for shipbreaking scrap moved to $280-285/mt delivered from $285/mt delivered earlier.


The daily domestic spot rebar prices in Turkey dropped by TRY30-40/mt ($4-5/mt) to TRY4,100-4,170/mt ex-works, including 18pc VAT, on Thursday amid the Turkish lira’s revaluation against the US dollar. Icdas decreased its local rebar prices by TRY90/mt ($12/mt) to TRY4,180/mt ex-works, including 18pc VAT.


Daily exported rebar prices remained unchanged at around $455/mt fob.


($1 = TRY7.74)

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