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 $500.82/mt cfr on Tuesday, despite a sale from the Baltic region.


A Marmara-based mill was heard to have purchased 15,000mt of HMS 1&2 (80:20) at $500/mt cfr, 9,000mt of shredded scrap at $515/mt cfr and 4,000mt of bonus material at $515/mt cfr from Finland.


Offers remain scarce despite several inquiries for cargoes from Turkish mills, as most suppliers expect a price increase. Exporters are targeting at least $510/mt cfr though bids do not exceed $500/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.


Spot rebar prices in the Turkish domestic market remained unchanged at TRY7,250-7,450/mt ex-works, including 18pc VAT, on Tuesday.


Kardemir sold 45,000-50,000mt of rebar at TRY7,245.20/mt ex-works, including 18pc VAT, on Tuesday and closed sales, which were opened on June 24.



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