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) increased by $3.31/mt to $256.25/mt cfr on Monday after Turkish mills continued ferrous scrap purchases.


Among the new deals that were reported, a Marmara-based mill bought HMS 1&2 (80:20) from the USA at $256/mt cfr in a mixed composition cargo on Monday, though further details were not available at the time of publication. Another US supplier was also heard to have sold 1-2 cargoes to Turkey recently at $256-257/mt cfr for HMS 1&2 (80:20).


Several Turkish steelmakers are looking for scrap cargoes now, while exporters are not in a hurry to sell their cargoes. In fact, some US and Baltic sellers continue to insist on a minimum of $260/mt cfr for HMS 1&2 (80:20).


A few deals reported in the Azov-Black Sea basin, were done last week. In one transaction, a Turkish producer booked a cargo of bonus material at $268/mt cfr from Romania on July 10, while in another sale a mill opted for HMS 1&2 (80:20) from Bulgaria at $246/mt cfr on July 9.


Rebar sales continue

Daily domestic rebar spot prices increased by TRY20-30/mt ($3-4/mt) across Turkey to TRY3,400-3,430/mt ex-works, including 18pc VAT, on Monday as trading continued. Icdas raised local rebar prices by TRY40/mt ($6/mt) to TRY3,440/mt ex-works, including 18pc VAT.


Exported Turkish rebar prices were flat at $410-415/mt fob. Late last week, a sale to Hong Kong was reported at $440/mt cfr for 50,000-55,000mt. Some more deals could follow as negotiations with Asian rebar customers remain active.


($1 = TRY6.87)

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