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) climbed by $0.65/mt to $258.82/mt cfr on Wednesday as two more deals were closed ahead of Democracy and National Solidarity Day in the country.


In one deal, an Iskenderun-based mill purchased 15,000mt of HMS 1&2 (90:10) and 15,000mt of shredded scrap at an average price of $262.50/mt cfr from the USA on Tuesday. The cargo is due to be shipped before September 10.


Another Turkish mill was heard to have reached an agreement with a Baltic supplier. Although full details of the transaction were not disclosed, market participants informed Davis Index that HMS 1&2 (80:20) changed hands at $259/mt cfr.


Trading is expected to continue in the Turkish ferrous scrap market because some mills are yet to book required cargoes. Most sellers are bullish.


Daily domestic rebar spot prices in Turkey remained unchanged at TRY3,400-3,430/mt ex-works, including 18pc VAT, on Wednesday, and exported rebar prices – at $415/mt fob due to the national holiday.


($1 = TRY6.87)

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