The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.92/mt to $258.17/mt cfr on Tuesday after a new sale from the USA was heard in the Turkish ferrous market.
A Marmara-based mill was heard to have purchased HMS 1&2 (80:20) at $258-258.50/mt cfr from the USA, however, full details of the transaction were not available at the time of publication.
In the last seven days alone, Davis Index estimates that Turkish mills booked up to 250,000mt of scrap from the USA, including the latest deal heard on the market.
In fact, sellers are insisting on higher prices now that buyers are active in Turkey’s scrap market for August cargoes. Suppliers from the USA and Baltic region are targeting $260/mt cfr Turkey and higher for HMS 1&2 (80:20) in some of the negotiations that are currently underway.
In the domestic market, Turkish mills raised purchase prices for shipbreaking scrap by $8/mt to $250/mt delivered on Tuesday.
Daily domestic rebar spot prices in Turkey were flat at TRY3,400-3,430/mt ex-works, including 18pc VAT, on Tuesday, while exported rebar prices moved to around $415/mt fob versus $410-415/mt fob earlier.
($1 = TRY6.87)