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) declined by $5.33/mt to $506.67/mt cfr on Thursday amid sluggish demand and a downtrend in the steel product market.


Most Turkish ferrous scrap buyers were inactive, preferring to wait for lower prices, and targeted $495-500/mt cfr for HMS 1&2 (80:20) following a decrease in steel product prices.


Importers at alternative destinations are also insisting on lower scrap prices. For example, on Wednesday, in a tender, an Egyptian mill was heard to have purchased around 20,000mt of HMS 1&2 (80:20) from the UK at $492.50/mt cfr for June shipment. 


Turkey’s domestic spot rebar prices dropped by TRY80-100/mt to TRY7,050-7,120/mt ex-works, including 18pc VAT, on Thursday in subdued trading. In the export market rebar prices fell by $10/mt to $770/mt fob.


Kardemir opened 150×150 billet sales at TRY6,903/mt ex-works for S235JR grade, and at TRY6,956.10/mt ex-works for the S420-B420 grade. The producer sold around 25,000mt of semis on Thursday.


($1 = TRY8.53)

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