The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $415.89/mt cfr on Friday as most market participants chose to hold off negotiations until next week.
Turkish mills are expected to be in the market next week and most suppliers have decided to wait until mills step in to book cargoes for March shipment.
Asian bulk markets, meanwhile, caught up with the recent drops in Turkish bulk levels after a Korean mill booked a cargo off the US west coast at a sub-$400/mt cfr price level for heavy melt. The grade was booked just a dollar or two under $400/mt cfr.
In the domestic market Turkish mills continue to drop purchase prices for shipbreaking scrap, which settled at $405/mt delivered on Friday, down by $5/mt from the prior day.
The daily domestic spot rebar price in Turkey declined by TRY40-70/mt ($5.50-10/mt) to TRY5,100-5,150/mt ex-works, including 18pc VAT, on Friday amid currency fluctuations, while the daily exported rebar prices were flat at $610/mt fob.
($1=TRY7.32)