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) rose by $3.10/mt to $262.50/mt cfr on Tuesday.


Negotiations have been lively in Turkey’s ferrous scrap market because many mills are looking for July shipment cargoes. Bids are reported at around $260/mt cfr for US or Baltic-origin HMS 1&2 (80:20), while offers vary in the range of $265-270/mt cfr and higher.


On Tuesday, an Iskenderun-based mill purchased 21,000mt of HMS 1&2 (80:20) at $265/mt cfr, 8,000mt of bonus scrap at $275/mt cfr, and 1,000mt of rails for $280/mt cfr from Russia (St Petersburg). The cargo is due to be shipped before July 20.


Also on Tuesday, a Marmara-based mill was heard to book 20,000mt of HMS 1&2 (75:25), 2,500mt of shredded scrap, 12,500mt of HMS 1 and P&S 5 ft from Belgium for an average price of $262/mt cfr.


One more sale from Belgium was discussed in the market, but it occurred June 5. An Iskenderun-based integrated steel mill signed a contract at an average price of $266/mt cfr for 10,000mt of HMS 1&2 (75:25), 30,000mt of shredded scrap, P&S 5ft and busheling.


In the domestic market, Turkish mills raised purchase prices for shipbreaking scrap by $2/mt to $252/mt delivered since the end of last week.


Demand for scrap has been consistent in Turkey because steel product sales have been robust.


Rebar prices increase in Turkey


Daily domestic rebar spot prices climbed by TRY20-30/mt ($3-4/mt) across Turkey and settled at TRY3,400-3,450/mt ex-works, including 18pc VAT, on Tuesday amid ongoing sales.


Kardemir opened rebar sales at TRY3,404.43/mt ex-works, including 18pc VAT. and sold around 25,000mt.


Rebar export prices in the Turkish market rose to $415-420/mt fob from $410-420/mt fob earlier.


($1 = TRY6.80)


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