The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by $0.34/mt to $249.81/mt cfr on Friday.
Buyers were very active in Turkey’s ferrous scrap market at the end of the week, as they couldn’t delay June cargo bookings any longer. Moreover, there are holidays next week in Turkey.
Five deals were closed with suppliers from the Baltic region on May 21-22, and, atypically, prices significantly varied from $247/mt cfr to $252.50/mt cfr for HMS 1&2 (80:20).
An exporter from Latvia sold HMS 1&2 (80:20) for $252.50/mt cfr, and bonus material for $262.50/mt cfr to an Izmir-based mill.
A scrap collector from Lithuania reached an agreement with a Marmara-based mill for $250/mt cfr for HMS 1&2 (80:20), and for $260/mt cfr for bonus material.
A supplier from Sweden signed a contact with another Marmara-based mill for $250/mt cfr of 13,500/mt cfr of HMS 1&2 (80:20), for $255/mt cfr of 9,000mt of shredded scrap, and for $260/mt cfr of 6,500mt of bonus material and busheling.
The same producer purchased 26,500mt of HMS 1&2 (80:20) at $247/mt cfr and 5,000mt of bonus scrap at $257/mt cfr from St Petersburg, Russia.
An exporter from Poland traded HMS 1&2 (80:20) at $247/mt cfr, and bonus material at $257/mt cfr, to an Iskenderun-based mill.
A supplier from northern Russia sold HMS 1&2 (95:5) to another Iskenderun-based mill for $260/mt cfr, with around 17,500mt to be shipped from Murmansk and 7,000mt to be shipped from Arkhangelsk.
Some transactions were fixed in the Azov-Black Sea basin on May 22: HMS 1&2 (80:20) from Romania changed hands for $242-245/mt cfr Turkey.
Business activity is expected to slow down in Turkey’s scrap market next week, as most steelmakers have booked all required tonnages.
Steel product prices increase in Turkey
Daily domestic rebar spot prices rose by TRY20-40/mt ($3-6/mt) across Turkey, and settled at TRY3,230-3,290/mt ex-works, including 18pc VAT, on Friday.
Exported rebar prices in Turkey increased by $5/mt to $400-405/mt fob, while exported billet prices moved to $375/mt fob from $370-375/mt fob earlier.
($1 = TRY6.81)