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) remained unchanged at $500.83/mt cfr on Friday amid a standoff between mills and exporters.


Buyers and sellers remain firm with mills bidding $495/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region, while sellers are offering the material above $500/mt cfr. Some recyclers are unwilling to negotiate below $510/mt cfr, resulting in fewer offers in Turkey, where mills have to purchase for August shipments.


In the short-sea market, several transactions were fixed in the Azov-Black Sea basin recently. A Karadeniz-based mill bought HMS 1&2 (90:10) at $463/mt cfr from Ukraine and HMS 1&2 (80:20) at $459/mt cfr, and bonus material at $469/mt cfr from Bulgaria. An Izmir-based mill purchased HMS 1&2 (85:15) at $465/mt cfr from Ukraine. Exporters from Russia (Rostov-on-Don) refused to sell to Turkey at below $475/mt cfr.


Spot rebar prices in the Turkish domestic market climbed by TRY10/mt to TRY7,160-7,390/mt ex-works on Friday and trading revived by the end of the week. In the meantime, Icdas decreased its local rebar prices by TRY60/mt to TRY7,380/mt ex-works Biga and TRY7,460/mt ex-works Istanbul due to currency fluctuations. All domestic prices include 18pc VAT.

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