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) slid by $0.49/mt to $256.41/mt cfr on Friday with a fresh deep-sea cargo booking.


An Iskenderun-based mill purchased 10,000mt of HMS 1&2 (80:20) at $256.50/mt cfr, 14,000mt of shredded scrap at $261.50/mt cfr, and 6,000mt of P&S 5ft at $266.50/mt cfr on April 16.


The Turkish ferrous scrap market was quiet on Friday as buyers and sellers stepped back to evaluate their trading prospects after active bookings for May shipments during the week. Davis Index estimates, mills bought a total of over 250,000mt of scrap this week. 


Three more deals, done on April 14, were reported in Turkey. An Izmir-based mill purchased HMS 1&2 (80:20) at $256/mt cfr, shredded scrap at $261/mt cfr, and P&S 5ft at $266/mt cfr from a US supplier.


A Marmara-based mill signed a contract with a Swedish exporter for 5,000mt of HMS 1&2 (80:20) at $256/mt cfr, 18,000mt of shredded scrap at $261/mt cfr, and 6,000mt of P&S 5ft at $266/mt cfr.


Another Marmara-based mill purchased a cargo from Poland, consisting of 26,000mt of HMS 1&2 (80:20) at $255/mt cfr, 2,000mt of bonus scrap at $265/mt cfr, and 2,000mt of busheling at $270/mt cfr.


Local rebar spot prices were unchanged in Istanbul, Izmir, and Iskenderun, and inched up by TRY20/mt ($3/mt) in Karabuk. As a result, the general price range was settled at TRY3,300-3,370/mt ex-works, including 18pc VAT, on Friday.


Export rebar prices in the Turkish market increased by $5/mt to $415-420/mt fob.


($1 = TRY6.94)

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