The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $433.13/mt cfr on Tuesday.
Details of a deal out of Estonia booked previously were released to the market today. A Marmara-based mill purchased 25,000mt of HMS 1&2 (80:20) at $427.50/mt cfr from an Estonian recycler on Apr 26. Some believe the deal may have transacted late last week.
Offers from the US continue to trend above $435/mt cfr and European offers are now in a $430-435/mt cfr range.
Short sea prices rose by $10/mt today after HMS 1&2 (80:20) ex-Ukraine was booked at $415/mt cfr Turkey, up from a previous deal of $408/mt cfr for HMS 1&2 (90:10).
Asian bulk markets continued to rise with bookings from Indonesia and Vietnam sending overall prices up by $6/mt across Southeast Asia.
Southeast Asian demand for rebar and billet continues to soar and with it, Turkish export sales are expected to remain robust.
Still, daily domestic spot rebar prices in Turkey were mostly unchanged at TRY6,050-6,120/mt ex-works on Tuesday. Icdas announced its local rebar prices at TRY6,140/mt ex-works Biga and TRY6,220/mt ex-works Istanbul. All domestic prices include 18pc VAT.
($1=TRY8.23)