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) inched up by $0.59/mt to $252.48/mt cfr on Monday.


Turkish mills are checking availability of ferrous scrap as they require cargoes for June shipment and intend to continue bookings at prices close to the most recent deals. However, suppliers are bullish and are targeting a minimum of $255/mt cfr for HMS 1&2 (80:20) from the US and Baltic region.


Some bookings are anticipated this week, even as one more contract finalized on May 8 was reported. An Izmir-based mill bought 28,000mt of HMS 1&2 (80:20) at $251.75/mt cfr and 7,000mt of bonus material at $261.75/mt cfr from a Latvian exporter. The cargo is due to be shipped in the first half of June.


Considering the current requirements, purchase prices for shipbreaking scrap in Izmir rose by $5/mt to $235/mt delivered on Monday.


Steel product prices increase in Turkey

Daily domestic rebar spot prices inched up by TRY10-30/mt ($1-4/mt) across Turkey to settle at TRY3,320-3,350/mt ex-works, including 18pc VAT, on Monday.


Icdas raised its local rebar prices by TRY50/mt ($7/mt) to TRY3,380/mt ex-works, including 18pc VAT. Bastug Metalurji increased them by TRY80/mt ($11/mt) to TRY3,380/mt ex-works, including 18pc VAT.


Exported rebar and billet prices in Turkey both advanced by $10/mt to $400-410/mt fob and to $370-380/mt fob, respectively.


($1 = TRY7.07)

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