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 $2.59/mt to $253.42/mt cfr on Wednesday as new transactions were reported.


An Iskenderun-based mill purchased two ferrous scrap cargoes on June 30. One cargo was from a US-based supplier consisting of 16,000mt of HMS 1&2 (80:20) at $256/mt cfr, 6,000mt of shredded scrap at $261/mt and 8,000mt of P&S 5ft at $266/mt cfr for August shipment. The second cargo, purchased from an exporter from Belgium, consisted of 20,000mt of HMS 1&2 (75:25), 2,500mt of shredded scrap, 12,500mt of P&S 5ft and HMS 1 at an average price of $252/mt cfr for shipment in the first half of August.


A deal was reported in the Azov-Black Sea basin too as a Marmara-based mill bough HMS 1&2 (80:20) from Romania at $242/mt cfr.


Negotiations revived in Turkey’s imported ferrous scrap market amid lively rebar sales in the domestic market at the beginning of this week. However, most Turkish mills bid $250-252/mt cfr for US-origin HMS 1&2 (80:20). According to market participants, suppliers from the USA and Canada are currently negotiating but have targeted offers above $255/mt cfr.


Local rebar market draws attention

Daily domestic rebar spot prices in Turkey were flat at TRY3,350-3,400/mt ex-works, including 18pc VAT, on Wednesday after reports of around 100,000mt of rebar being traded on Monday and Tuesday.


Exported rebar sales were sluggish and prices declined to $410-415/mt fob versus $415/mt fob on June 30.


($1 = TRY6.85)

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