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) climbed by $0.21/mt to $293.10/mt cfr on Wednesday after a new sale from Europe was reported.


An Izmir-based mill purchased HMS 1&2 (75:25) at $289/mt cfr, shredded scrap at $296/mt cfr, and bonus material at $303/mt cfr from a German supplier on Oct 27.


Turkish mills have almost covered their needs for November shipment as, according to some market participants, several more bookings were made in the Turkish scrap market recently, though their details are not available yet.


Negotiations also slowed down in Turkey on Wednesday ahead of the Republic Day holiday on Oct 29.


The Turkish rebar market was unchanged ahead of the holiday. The daily domestic spot rebar prices were flat at TRY4,330-4,420/mt ex-works, including 18pc VAT, on Wednesday, while the daily exported rebar prices continued to vary in the range of $450-455/mt fob.


($1 = TRY8.28)

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