The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) rose by $1.16/mt to $262.50/mt cfr on Tuesday, as sellers targeted higher prices amid limited offers.
Ferrous scrap bookings are expected to continue in Turkey because most mills require cargoes for March shipment, with some already in the market. Mills’ bids are reported at around $260/mt cfr for HMS 1&2 (80:20) from the US or the Baltic region.
Offers are scarce because scrap suppliers expect price increases in the coming days. In particular, US and Baltic exporters are looking for prices higher than $265/mt cfr for HMS 1&2 (80:20).
The most recent transactions in the Turkish market were fixed late last week at $260-264/mt cfr for HMS 1&2 (80:20) from the US, and at $255/mt cfr for HMS 1&2 (80:20) from the UK, as Davis Index reported earlier.