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 $5.82/mt to $426.47/mt cfr on Tuesday on fresh bookings from the Baltic region and Europe.


On Wednesday, a Karadeniz-based mill purchased HMS 1&2 (80:20) at $427/mt cfr, shredded scrap at $432/mt cfr, and bonus material at $437/mt cfr from a Swedish supplier.


A day earlier, an Iskenderun-based mill booked a Belgian cargo at an average price of $429/mt cfr for 22,500mt of HMS 1&2 (80:20) and 12,500mt of P&S, HMS 1.


Details of a third booking, concluded a few days prior, were also released on Wednesday. A cargo from the Netherlands traded at $413/mt cfr for 16,000mt of HMS 1&2 (80:20), $418/mt for 2,500mt of shredded, and $423/mt for 8,500mt of bonus material to a Marmara-based mill.


Turkish mills are expected to book more cargoes amid active steel product sales but some buyers are reluctant given supplier bullishness. Following the latest sales, offers from the Baltic region and USA moved to $430-435/mt cfr for HMS 1&2 (80:20).


Turkish mills were heard to have sold around 120,000mt of rebar to Singapore and Hong Kong recently, in addition to sales to North and South America, which were reported by Davis Index yesterday. Export rebar prices remained at around $645/mt fob on an actual weight basis.


Turkish billet sales were heard to China at around $610/mt fob and to the Dominican Republic at around $615/mt fob.


Daily domestic spot rebar prices in Turkey rose by TRY70-100/mt ($8.50-12/mt) to TRY5,950-6,020/mt ex-works on Wednesday. Icdas raised its local rebar prices by TRY40/mt to TRY6,060/mt ex-works Biga and TRY6,140/mt ex-works Istanbul. All domestic prices include 18pc VAT.



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