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 $288/mt cfr on Wednesday due to a lack of deep-sea bookings.


Negotiations were in progress in the Turkish ferrous scrap market, but no deep-sea deals were reported due to a gap between bids and offers. Bids remained at around $285/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region, while offers were at around $290/mt cfr for the same grade.


A single transaction was reported in the short-sea segment, with a supplier from Marseille, France selling 4,000mt of HMS 1&2 (80:20) at $278/mt cfr and 1,000mt of bonus material at $288/mt cfr to an Iskenderun-based mill.


In the Turkish domestic market, purchase prices for shipbreaking scrap moved to $280-281/mt delivered on Wednesday from $280-285/mt delivered earlier.


Asian bulk prices fell by $10/mt after a South Korean mill booked a 30,000mt cargo of A3 scrap from Eastern Russia at $286/mt cfr.


Kardemir sold over 100,000mt of steel products. The Turkish integrated steel mill opened rebar sales at TRY4,085.16/mt ex-works, including 18pc VAT on Wednesday, has sold around 30,000mt, and closed sales.


Moreover, the company announced 150×150 billet prices at TRY3,829.10/mt ex-works, including 18pc VAT for S235JR grade, and at TRY3,870.40/mt ex-works, including 18pc VAT for S420-B420 grade. Sales amounted to around 80,000mt, according to market participants.


Kardemir also opened wire rod sales at TRY4,897/mt ex-works, including 18pc VAT, and sold around 10,000mt of the product.


The daily domestic spot rebar prices in the Turkish market climbed by TRY10/mt ($1/mt) to TRY4,080-4,130/mt ex-works, including 18pc VAT, on Wednesday. Icdas decided to raise its local rebar prices by TRY70/mt ($9/mt) to TRY4,220/mt ex-works, including 18pc VAT.


The daily exported rebar prices continued to vary in the range of $450-455/mt fob.


($1 = TRY7.88)

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