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) was unchanged at $472.25/mt cfr on Tuesday in a quiet market.


Trading is on hold in the Turkish imported ferrous scrap market. Negotiations are slow with no firm bids or offers being reported for deep-sea or short-sea cargoes. Both buyers and sellers are well booked and are displaying a minimal interest in doing business.


Turkish mills need at least 10 deep-sea cargoes for February shipment, but they are not in a rush to book at the end of December. The most recent transaction in Turkey for US cargo was fixed in the middle of last week at 473/mt cfr for HMS 1&2 (80:20), $478/mt cfr for shredded scrap, and $483/mt cfr for P&S 5ft, as reported by Davis Index earlier.


The daily domestic spot rebar prices in Turkey decreased by TRY30-50/mt ($4-7/mt) to TRY5,570-5,650/mt ex-works, including 18pc VAT, on Tuesday on the Turkish lira’s revaluation against the US dollar. Icdas reduced its local rebar price by TRY40/mt ($5/mt) to TRY5,610/mt ex-works, including 18pc VAT.


The daily exported rebar prices in Turkey were flat $635-640/mt fob.


($1 = TRY7.39)

Leave a Reply

Your email address will not be published.