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 $2.07/mt to $505/mt cfr on Monday amid higher bids and offers despite slow business activity.


Bids were heard at around $500/mt cfr for US and Baltic-origin HMS 1&2 (80:20), while sellers targeted a minimum of $510/mt cfr. Some US suppliers also raised offers to $530/mt cfr for the grade in anticipation of negotiations reviving later this week as Turkish mills are considering booking cargoes for June and July shipment.


Spot rebar prices in the Turkish domestic market rose by TRY160-200/mt to TRY7,270-7,330/mt ex-works on Monday amid solid demand and limited availability. Icdas raised its local rebar prices by TRY160/mt to TRY7,300/mt ex-works Biga and TRY7,380/mt ex-works Istanbul, while Bastug Metalurji increased them by TRY240/mt to TRY7,400/mt ex-works. All domestic prices include 18pc VAT.


($1 = TRY8.35)

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