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 $5.50/mt to $242.50/mt cfr on Wednesday, as more of the material became available to Turkey from Europe and the Baltic region, while short-sea scrap sold at lower prices.


On April 29, Turkish mills bought 13,000mt of ferrous scrap from the Azov-Black Sea basin: three cargoes of HMS 1&2 (80:20) from Romania changed hands for $230-232/mt cfr, decreasing by $12.50-14.50/mt from April 24.


Turkish mills have continued targeting lower deep-sea scrap prices because their difficulties selling steel products has left them little choice but to reduce prices. Bids dropped to $235/mt cfr as scrap availability increased, with several European suppliers and a few Baltic exporters beginning to offer HMS 1&2 (80:20) for around $245/mt cfr Turkey.


Purchase prices for shipbreaking scrap in the Turkish market decreased by $15/mt to $230/mt delivered on Wednesday.


Downtrend continues for Turkish rebar prices


Local rebar spot prices declined by TRY20/mt ($3/mt) across Turkey and settled at TRY3,240-3,270/mt ex-works, including 18pc VAT, on Wednesday amid sluggish demand. Exported rebar prices dropped by $5-10/mt to $400-410/mt fob.


Turkish billet export prices were reported at $360-370/mt fob.


($1 = TRY6.95)


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