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) slid by $0.25/mt to $253.17/mt cfr on Thursday. The index does not include a US booking, which was reported after the editorial deadline.


A Karadeniz-based mill was confirmed to have purchased 17,000mt of HMS 1&2 (80:20) and 13,000mt of shredded scrap at an average price of $262/mt cfr from the USA on Thursday. The cargo is due to be shipped before August 5 from Houston.


Suppliers have remained firm in their offers, with USA and Baltic region exporters targeting $260/mt cfr for HMS 1&2 (80:20) and European suppliers asking for a minimum of $255/mt cfr for the same grade. 


As a result, while some mills are negotiating, others prefer to wait until next week for scrap bookings. 


In the meantime, Turkish mills have decreased purchase prices for shipbreaking scrap by $8/mt to $242/mt delivered over a week in the domestic market.


Local rebar market firm

Daily domestic rebar spot prices in Turkey increased by TRY20/mt ($3/mt) at the upper end of the previous range to TRY3,340-3,420/mt ex-works, including 18pc VAT, on Thursday as trading continued.


The exported rebar market remained slow with prices at $410-415/mt fob.


($1 = TRY6.85)

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