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 $455.71/mt cfr on Thursday following a continued gap between bids and offers.


Turkish mills’ bids for HMS 1&2 (80:20) from the USA and the Baltic region remain at $450/mt cfr amid limited offers that are above $460/mt cfr.


In the meantime, demand for scrap is emerging at alternative outlets. Some Egyptian mills are looking for cargoes and bidding as low Turkish mills while a mill from Kuwait has also started checking available offers.


Spot rebar prices in the Turkish domestic market decreased by TRY50-100/mt to TRY6,850-7,030/mt ex-works, including 18pc VAT, on Thursday amid weak sales. Kardemir opened rebar sales at TRY5,975/mt ex-works, excluding 18pc VAT on Aug 11 and closed them the next day without significant results.


Some Turkish mills have kept offers for rebar at $710/mt fob actual weight, but a few small volumes sales to the Middle East, Africa and Europe were heard at $695-700/mt fob actual weight.


A large mill was heard to have sold 30,000mt of wire rod at around $810/mt fob to Europe.



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