The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $2.04/mt to $493.96/mt cfr on Monday following fresh transactions.
A Marmara-based mill purchased 25,000-28,000mt of HMS 1&2 (75:25) and 2,000-5,000mt of HMS 1, bonus material at an average price of $486.50/mt cfr from Germany on July 9. The cargo is due to be shipped in August.
The same mill bought 7,000mt of HMS 1&2 (80:20) at $493/mt cfr and 7,000mt of shredded scrap at $508/mt cfr from a US supplier as a top-up tonnage for a cargo, which was purchased around two weeks ago and is currently under loading.
Bids for HMS 1&2 (80:20) from the USA and the Baltic region dropped to a maximum of $490/mt cfr in Turkey early this week as there are enough offers in the market.
Spot rebar prices in the Turkish domestic market remained flat at TRY7,250-7,450/mt ex-works on Monday. Icdas reduced its local rebar prices by TRY40/mt to TRY7,440/mt ex-works Biga and TRY7,520/mt ex-works Istanbul. All domestic prices include 18pc VAT.
Late last week, some billet sales were heard in the Turkish domestic market at $690-692/mt ex-works.
($1=TRY8.63)