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) rose by $9.96/mt to $444.80/mt cfr on Tuesday after a sale from the Baltic region.


An Iskenderun-based mill booked 20,000mt of HMS 1&2 (80:20) at $445/mt cfr and 5,000mt of bonus material at $455/mt cfr from the Baltic region through an international trader. The cargo is due to be shipped at the end of March or in the first half of April, according to market participants.


Turkish importers also accepted higher prices for short-sea cargoes and around 15,000mt of Romanian-origin HMS 1&2 (80:20) changed hands at $420/mt cfr Turkey after negotiations.


Turkish mills continue to raise their purchase prices for domestic shipbreaking scrap, which settled at $395/mt delivered on Tuesday, up by $5/mt from Feb 17.


The daily domestic spot rebar prices in Turkey increased by TRY20-30/mt ($3-4/mt) to TRY5,200-5,230/mt ex-works, including 18pc VAT, on Tuesday amid active trading. Icdas raised its local rebar prices by TRY30/mt and opened sales in Biga at TRY5,230/mt ex-works, including 18pc VAT, and in Istanbul at TRY5,310/mt ex-works, including 18pc VAT.


The daily exported rebar prices in Turkey rose by $10/mt to $630-635/mt fob on Tuesday. Turkish producers remain firm on their prices with some voicing offers at $645-650/mt fob.



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