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) was unchanged $454.82/mt cfr on Tuesday despite a new transaction from Venezuela.


An exporter from Venezuela sold 25,000mt of HMS 1&2 (80:20) at $453/mt cfr Izmir. The deal was finalized on Aug 16 for September shipment cargo.


Turkish mills looking for September and October shipments are bidding $450-453/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region though scrap suppliers show little interest in booking at those prices. Mills from Egypt and Kuwait are also in the market.


A sale from Europe to a large Izmir-based mill at $445/mt cfr for HMS 1&2 (80:20) was also discussed, but the transaction was finalized on Aug 13 and is not representative of the current market.


Spot rebar prices in the Turkish domestic market decreased by TRY50/mt to TRY6,750-6,850/mt ex-works, including 18pc VAT, on Tuesday amid slow business activity. Exported rebar prices remained in the range of $695-700/mt fob actual weight.


In the Turkish domestic billet market, a sale was heard at $640/mt ex-works in Iskenderun.



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