The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.68/mt to $280.68/mt cfr on Wednesday after a fresh sale from Europe was heard.
A Marmara-based mill was heard to have purchased 20,000mt of HMS 1&2 (75:25), 10,000mt of shredded scrap, and 10,000mt of HMS 1 at an average price of $280.75/mt cfr from a Belgian supplier on August 4.
The same mill bought HMS 1&2 (80:20) at $283/mt cfr, shredded scrap at $288/mt cfr, and bonus material at $293/mt cfr from Finland, but this deal was not included in the daily index as it was heard after the editorial deadline.
Mills and suppliers have raised their bids and offers amid active negotiations in the Turkish ferrous scrap market. Firm bids were reported at $280/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region on Wednesday, while most exporters are targeting higher and offering the material at $285-290/mt cfr..
Some Turkish mills are looking for short-sea scrap cargoes and though negotiations have not resulted in deals yet, offers for A3 from Russia (Rostov-on-Don) are being reported at $280/mt cfr.
Local rebar prices continue uptrend
Daily domestic rebar spot prices rose by TRY10-30/mt ($1-4/mt) across Turkey to TRY3,670-3,690/mt ex-works on Wednesday as product sales continued. Izmir Demir Celik raised its local rebar prices by TRY50/mt ($7/mt) to TRY3,700/mt ex-works, while Bastug Metalurji increased them by TRY40/mt ($6/mt) to TRY3,700/mt ex-works. All domestic prices in Turkey include 18pc VAT.
Exported rebar prices in Turkey remained at $440/mt fob, but some mills plan to achieve $445/mt fob.
($1 = TRY7.04)