The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) went up by $0.87/mt to $256.65/mt cfr on Tuesday after two new sales were reported.
An Iskenderun-based mill purchased 15,000mt of HMS 1&2 (80:20) at $257/mt cfr, 12,000mt of shredded scrap at $262/mt cfr, and 3,000mt of P&S 5ft at $267/mt cfr from an American supplier on April 10.
A new transaction was also fixed in the Azov-Black Sea basin this week with a Turkish mill purchasing HMS 1&2 (80:20) from Romania at $250/mt cfr.
Negotiations are active in the Turkish ferrous scrap market as steelmakers are looking for both deep-sea and short-sea cargoes for May shipment. Bids are reported at $255/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region, while exporters target a minimum of $260/mt cfr. Suppliers from Russia (Rostov-on-Don) and Romania are asking no lower than $255/mt cfr for A3 scrap and HMS 1&2 (80:20), respectively.
Local rebar spot prices dropped by TRY20/mt ($3/mt) in Karabuk and Iskenderun but were flat in Istanbul and Izmir. As a result, the general range was settled at TRY3,200-3,270/mt ex-works, including 18pc VAT, on Tuesday. Export rebar prices in Turkey continue to vary between $410-420/mt fob.
($1 = TRY6.80)