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 $10.31/mt to $410/mt cfr on Friday as sellers refused to accept current bids in anticipation of higher prices.


Turkish ferrous scrap importers are actively looking for cargoes and bidding $400-405/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region, but firm offers are missing. Sellers are bullish due to tight supply. A few Baltic exporters anticipate next deals at around $420/mt cfr, while US exporters are expected to resume sales to Turkey, when mills will be ready to pay $430-440/mt cfr for HMS 1&2 (80:20), considering prices at alternative outlets.


On Friday, details of the transaction reported by Davis Index on Thursday were disclosed. A Belgian recycler reached an agreement with a Karadeniz-based mill at an average price of $397.50/mt cfr for 10,000mt of HMS 1&2 (75:25), 15,000mt of HMS 1 and P&S 5ft, 5,000mt of shredded scrap, and 2,500mt of rails. The same supplier closed a deal with a Marmara-based mill at an average price of $400/mt cfr for 15,000mt of HMS 1&2 (75:25), 7,500mt of HMS 1 and P&S 5ft, 5,000mt of shredded scrap, 5,000mt of new cuttings, and 5,000mt of cutted beams.


Prices for shipbreaking scrap in the Turkish domestic market rose by $20/mt to $390/mt delivered over two days due to solid demand.


Rebar prices surge

Turkey’s daily domestic spot rebar prices soared by TRY200-240/mt ($25.50-31/mt) to TRY5,480-5,570/mt ex-works, including 18pc VAT, on Friday amid robust sales.


The daily exported rebar prices in Turkey jumped to $585-600/mt fob on Friday versus $560-565/mt fob on Thursday. A sale of a Turkish rebar to Peru was heard at $600/mt fob. Some mills reported offers at $610/mt fob at the end of the week.


($1 = TRY7.83)

Leave a Reply

Your email address will not be published.