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) inched up by $0.05/mt to $295.50/mt cfr on Thursday as prices varied significantly in new deals.


Trading continues in the Turkish imported ferrous scrap market. A Marmara-based mill purchased a mixed composition cargo from the USA with HMS 1&2 (80:20) at $293.50/mt cfr on Thursday, but further details of the transaction were not available at the time of publication.


On the same day, a Karadeniz-based mill reached an agreement with a Canadian supplier at an average price of $310/mt cfr for 20,000mt of HMS 1&2 (95:5), 10,000mt of shredded scrap and 20,000mt of bonus material.


An Izmir-based mill was heard to have booked 25,000mt of HMS 1&2 (80:20) at $290/mt cfr from Venezuela on Nov 4.


Some negotiations are in progress in Turkey, and most exporters from the USA and the Baltic region are bullish and raised offers for HMS 1&2 (80:20) close to $300/mt cfr.


The daily rebar spot prices in the Turkish domestic market were unchanged at TRY4,530-4,630/mt ex-works, including 18pc VAT, on Thursday, while the daily exported rebar prices remained at $455-460/mt fob.


($1 = TRY8.43)

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