The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by 30¢/mt to $269.57/mt cfr on Friday, with another sale from the Baltic region.
An Izmir-based mill bought HMS 1&2 (80:20) at $268/mt cfr, as well as bonus material at $278/mt cfr, from the Baltic region on March 12. The same mill purchased a similar cargo from another Baltic exporter the same day.
It appears there is only one buyer in the Turkish ferrous scrap market; most other mills have decided to retreat from the market due to negative sentiment largely induced by COVID-19. Some scrap suppliers claimed that, by Friday, they could not receive any bids.
A sale from the US was reported today, although it occurred on March 11 and doesn’t reflect market realities anymore. An Izmir-based mill bought HMS 1&2 (80:20) at $275/mt cfr and shredded scrap at $280/mt cfr.
There has been little trade in the Turkish rebar market. Local rebar prices were unchanged at TRY3,100-3,150/mt ex-works, including 18pc VAT, on Friday. Export rebar prices were reported at $430-435/mt fob.
Business activity was better in the Turkey’s billet market this week. Kardemir sold around 60,000mt at TRY2,950/mt ex-works, including 18pc VAT for billet S235JR, and at TRY2,985.40/mt ex-works, including 18pc VAT for billet III-3.
$1 = TRY6.33