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) climbed by $0.50/mt to $284.96/mt cfr on Friday with two sales from the USA.


An Iskenderun-based integrated steel mill was confirmed to have purchased 18,000mt of HMS 1&2 (90:10) at $288/mt cfr, 3,000mt of shredded scrap at $290/mt cfr and 6,000mt of P&S 5ft at $295/mt cfr from an American supplier on August 6.


Another Iskenderun-based mill was heard to have booked HMS 1&2 (80:20) at $285/mt cfr from another US exporter, but further details were not disclosed at the time of publication.


Trading continued in the Azov-Black Sea basin where a cargo of A3 scrap from Rostov-on-Don was sold at $284/mt cfr Karadeniz an increase from $280/mt cfr reported in another deal earlier this week.


Turkish imported ferrous scrap market was busy this week and according to market participants, mills bought at least 300,000mt of scrap for September shipment.


In the domestic market Turkish mills raised purchase prices for shipbreaking scrap by $5/mt to $275/mt delivered over a week.


Billet prices rise in deals

The domestic billet market in Turkey was active this week as new deals were heard on Friday at slightly below $425/mt ex-works for around 20,000mt of semis, after some sales at around $420/mt ex-works were reported on August 6. All mills increased offers to $430/mt ex-works.


Daily domestic rebar spot prices increased significantly by TRY30-80/mt ($4-11/mt) across Turkey to TRY3,800-3,880/mt ex-works, including 18pc VAT on Friday, but business activity slowed down amid Turkish currency fluctuations against the US dollar.


Exported rebar prices in Turkey held at $440/mt fob, with more offers heard at $445/mt fob.


($1 = TRY7.20)

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