The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) slid by $0.03/mt to $242.90/mt cfr on Monday.
Two deals, which were closed late last week, were heard in Turkey’s ferrous scrap market. In the first deal, a Marmara-based mill purchased HMS 1&2 (80:20) at $243/mt cfr from the USA. An Iskenderun-based mill bought HMS 1&2 (80:20) at $238/mt cfr and bonus material at $248/mt cfr from the Netherlands in the second deal.
Negotiations were slow in Turkey on Monday because May 19 is Youth and Sports day—a national holiday in the country. Sporadic bids were reported at $240-243/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region. According to Turkish mills, availability of scrap has notably improved.
Export rebar prices decrease
Exported rebar prices in Turkey dropped to $395-400/mt fob on Monday versus $395-405/mt fob on Friday. A sale of a large cargo from last week of approximately 55,000mt was heard at $415-416/mt cfr to Hong Kong. According to market participants, the price was around $395/mt fob. Some sources believe that there were two similar sales.
Daily domestic rebar spot prices were flat at TRY3,220-3,280/mt ex-works, including 18pc VAT on Monday.
Exported billet prices were also unchanged in Turkey at $370-375/mt fob.
($1 = TRY6.88)