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) inched up by $0.43/mt to $502.93/mt cfr on Wednesday following fresh bookings from Russia, UK, and EU.


An Iskenderun-based mill purchased HMS 1&2 (80:20) at $500/mt cfr and bonus material at $510/mt cfr from St Petersburg, while another Iskenderun-based mill bought 18,000mt of HMS 1&2 (95:5) at $510/mt cfr from Murmansk.


An Izmir-based mill closed a deal with a UK-based supplier at $499/mt cfr for 6,000mt of HMS 1&2 (80:20) and at $519/mt cfr for 18,000mt of shredded scrap for June shipment.


A Belgian exporter sold 20,000mt of HMS 1&2 (80:20), 10,000mt of shredded scrap, 6,000mt of P&S, HMS 1 and 4,000mt of new cuttings at an average price of $500/mt to an Iskenderun-based mill for June shipment.


More bookings are anticipated this week amid active negotiations in the imported scrap market.


Turkey’s exported rebar prices reached $765-770/mt fob actual weight with some sales heard to Latin America and Europe. An Iskenderun-based mill was also heard to have sold around 30,000mt of wire rod at $840/mt fob to Europe.


Spot rebar prices in the Turkish domestic market remained unchanged at TRY7,070-7,170/mt ex-works, including 10pc VAT on Wednesday.



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