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 $4.03/mt to $279.91/mt cfr on Tuesday amid active trading.


An Iskenderun-based mill negotiated with a US supplier and purchased 20,000mt of HMS 1&2 (90:10) at $282.50/mt cfr, 5,000mt of shredded scrap at $285/mt cfr and 5,000mt of P&S 5ft at $290/mt cfr.


Demand for scrap persists in Turkey, with offers from the US moving up to $285-290/mt cfr. European suppliers are targeting $280/mt cfr for HMS 1&2 (80:20).


A deal was also reported in the Azov-Black Sea basin with HMS 1&2 (80:20) from Bulgaria sold at $268/mt cfr Marmara.


Turkish rebar prices increased to $430-440/mt fob, ex-works and even to $445/mt fob, ex-works in some cases, while billet prices rose to $410/mt, ex-works on improved sales.

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