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 $0.72/mt to $263.22/mt cfr on Wednesday.


Negotiations are continuing in Turkey’s ferrous scrap market, but no new deals have been reported so far. Turkish mills are trying find HMS 1&2 (80:20) from the US or the Baltic region for below $265/mt cfr—closer to $260/mt cfr, in fact—while suppliers raised their offers to $267-270/mt cfr. Exporters insisted on higher prices after a seller from Russia achieved a deal price at $265/mt cfr for HMS 1&2 (80:20) yesterday.


Local demand for rebar strong


Daily domestic rebar spot prices climbed by TRY10-30/mt ($1-4/mt) across Turkey and settled at TRY3,410-3,470/mt ex-works, including 18pc VAT, on Wednesday. Local rebar demand has improved this month, but there’s limited availability of the material because of pandemic-related shutdowns in the country during April and May.


Icdas raised local rebar prices by TRY40/mt ($6/mt) to TRY3,440/mt ex-works, including 18pc VAT, while Bastug Metalurji increased prices by TRY50/mt ($7/mt) to TRY3,490/mt ex-works, including 18pc VAT.


Export rebar prices in the Turkish market remained flat at $415-420/mt fob.


A billet sale from Turkey to Morocco last week was heard for around $390/mt fob.


($1 = TRY6.79)

Leave a Reply

Your email address will not be published.