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) increased by $1.75/mt to $259.40/mt cfr on Friday.


Turkey’s ferrous scrap market remained bullish. Some mills were looking for cargoes for July shipment, but suppliers raised offers further or decided to step back, expecting higher prices next week.


An Izmir-based mill was heard to have purchased a cargo from the USA on Thursday and while full details of the transaction were not disclosed, Davis Index learnt that HMS 1&2 (80:20) changed hands at $259.50/mt cfr.


In the domestic market, Turkish mills raised purchase prices for shipbreaking scrap by $10/mt to $250/mt delivered during the week.


Turkish steel product sales continue

Daily domestic rebar spot prices climbed by TRY30-70/mt ($4-10/mt) across Turkey to settle at TRY3,340-3,400/mt ex-works, including 18pc VAT, on Friday amid active trading.


Export rebar prices in the Turkish market rose to $410-420/mt fob from $410-415/mt fob earlier. Some sales of small tonnages were heard at around $415/mt fob to Africa and the Middle East.


Export billet in Turkey increased by $10-15/mt to $385-390/mt fob. Some sales at the domestic market were heard at $390-393/mt ex-works.


($1 = TRY6.77)

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