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 virtually unchanged at $426.44/mt cfr on Thursday on fresh bookings from Venezuela and Russia.


An Iskenderun-based mill purchased HMS 1&2 (80:20) at $425/mt cfr from Venezuela on Apr 21. The cargo is due to be shipped in the second half of May or early in June.


A second cargo was booked Wednesday by another Iskenderun-based mill that bought 22,000mt of HMS 1&2 (80:20) at $426/mt cfr, 5,000mt of shredded scrap at $436/mt cfr, and 6,000mt of bonus material at $436/mt cfr from St Petersburg. The cargo is due to be shipped in the first half of June.


Several mills are in negotiations for cargoes so some more deals are expected shortly. Offers were reported at around $430/mt cfr from the Baltic region, while bids remained close to $425/mt cfr. US suppliers are targeting above $430/mt cfr for HMS 1&2 (80:20).


Daily domestic spot rebar prices in Turkey rose by TRY80-90/mt ($10-11/mt) to TRY6,040-6,100/mt ex-works on Thursday as the Turkish lira weakened again against the US dollar. Icdas raised its local rebar prices by TRY110/mt to TRY6,170/mt ex-works Biga and TRY6,250/mt ex-works Istanbul. All domestic prices include 18pc VAT.



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