The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) slid by $0.89/mt to $454.82/mt cfr on Monday following a sale from the Baltic region.
An Izmir-based mill was heard to have purchased 18,500mt of HMS 1&2 (80:20) at $455/mt cfr, 5,000mt of shredded scrap at $470/mt cfr and 1,500mt of bonus material at $470/mt cfr from a Baltic supplier late last week.
Bids for HMS 1&2 (80:20) from the USA and the Baltic region fell to $445-450/mt cfr in Turkey on Monday morning but recovered to $450-453/mt cfr by the end of the day after most suppliers refused to negotiate at those levels.
Demand from Egypt and Kuwait persists with importers from the two countries mulling higher bids this week after they were heard to have failed to find any cargo last week.
Spot rebar prices in the Turkish domestic market decreased by TRY50-100/mt to TRY6,800-6,900/mt ex-works on Monday due to inactive sales. Icdas decreased its local rebar prices by TRY150/mt to TRY6,910/mt ex-works Biga and TRY6,990/mt ex-works Istanbul. All these prices include 18pc VAT.
($1=TRY8.48)