The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) went up by $1.51/mt to $472.22/mt cfr on Wednesday as mills were compelled to pay higher prices.
Turkish ferrous scrap importers struck new deals amid active buying in the market. A mill was heard to have purchased a cargo from the USA with HMS 1&2 (80:20) at around $473/mt cfr, but no other details were available at the time of publication.
There is a demand for both deep-sea and short-sea cargoes in Turkey, with steelmakers looking at material for February and March shipment. Thus, a Karadeniz-based mill bought 10,000mt of A3 scrap from Russia (Rostov-on-Don) at $470/mt cfr.
Some negotiations continue in the Turkish scrap market, and suppliers are targeting further price increases amid scarce offers.
The daily domestic and export rebar prices in Turkey were flat at TRY5,630-5,680/mt ex-works, including 18pc VAT, and at $635-640/mt fob, respectively, on Tuesday.
($1 = TRY7.64)