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) decreased by $2.72/mt to $275/mt cfr on Friday due to minimal demand and lower price in a short-sea booking.


Trading is very low in the Turkish imported ferrous scrap market. The only deal was fixed in the Azov-Black Sea basin recently where HMS 1&2 (80:20) from Romania was sold at $265/mt cfr. The same material was traded at $273/mt cfr last week.


Demand for deep-sea cargoes also remains poor in Turkey with no bids reported and mills expecting prices to fall below $270/mt cfr for HMS 1&2 (80:20) from the US or the Baltic region. Offers are absent too, but some suppliers hope that $275/mt cfr is achievable for HMS 1&2 (80:20) from the USA or the Baltic region.


The Turkish rebar market is unfavorable though prices for local rebar inched up by Try10/mt ($2/mt) at the upper end to Try3,160-3,220/mt ex-works on Friday. However, this was only due to currency fluctuations as business activity stays very slow. No deals were reported on export.


$1 = TRY6.22

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