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) was flat at $275/mt cfr on Tuesday.


Negotiations in Turkey’s ferrous scrap market are still moving slowly. Most buyers are quiet, while sellers, who aren’t under pressure to move material, prefer waiting for mills to approach them with strong buying intentions. Some market participants expect deals later in the week because all Turkish steelmakers require scrap for April shipment.


Both deep-sea and short-sea markets are calm at the moment.


Rebar prices in Turkey did not change considerably. Local prices in Istanbul and Izmir were flat, but decreased by TRY20/mt ($3/mt) in Iskenderun, and by TRY30/mt ($5/mt) in Karabuk on Tuesday. As a result, local rebar prices vary in the range of TRY3,030-3,100/mt ex-works, slightly below TRY3,050-3,100/mt ex-works yesterday. Export rebar prices are flat at around $435/mt fob.


$1 = TRY6.15

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