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 $1.33/mt to $266.25/mt cfr on Tuesday as offer prices rose and negotiations revived in the Turkish ferrous scrap market.


Suppliers from the Baltic region and the US raised offers to $270/mt cfr after a sale from Latvia was reported at $265/mt cfr for HMS 1&2 (80:20). Some Turkish mills are looking for material, but bids have remained in the range of $260-265/mt cfr. 


However, European exporters are asking $265-270/mt cfr for HMS 1&2 (80:20), citing the euro-dollar exchange rate on the euro’s revaluation.


Since Turkish producers require scrap, in the domestic market they raised purchase prices for shipbreaking scrap by $7/mt to $265/mt delivered over a day.


Rebar prices climb

Daily domestic rebar spot prices increased by TRY20/mt ($3/mt) across Turkey to TRY3,480-3,520/mt ex-works, including 18pc VAT, on Tuesday as trading continued.


Kardemir opened rebar sales at TRY3,528.20/mt ex-works, including 18pc VAT and closed them after selling 20,750mt of the material.


Exported rebar prices moved to the $420-425/mt fob range in Turkey from $420/mt fob a day ago.


($1 = TRY6.84)

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