The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $3.87/mt to $383.87/mt cfr on Wednesday after a fresh sale from Europe was reported.
A Marmara-based mill purchased 15,000mt of HMS 1&2 (75:25), 5,000mt of shredded scrap, 10,000mt of HMS 1 and P&S at an average price of $385/mt cfr from a Belgian supplier. The cargo is due for shipping in January.
Turkish ferrous scrap importers remain active as the uptrend in steel product sales continues. Scrap offers are still rare, with US and Baltic exporters expected to test the market with prices at $390-400/mt cfr for HMS 1&2 (80:20).
A new transaction was also fixed in the Azov-Black Sea basin, with a cargo of HMS 1&2 (80:20) from Romania changing hands at $365/mt cfr Turkey.
Prices for shipbreaking scrap in the Turkish domestic market rose by $10/mt to $370/mt delivered over a day.
Turkey’s daily domestic spot rebar prices jumped again by TRY100-120/mt ($13-15/mt) to TRY5,180-5,220/mt ex-works, including 18pc VAT, on Wednesday. Icdas raised its local rebar price by TRY130/mt ($17/mt) to TRY5,190/mt ex-works, including 18pc VAT. Daily exported rebar prices in Turkey increased by $5/mt to $550-555/mt fob.
Billet trading in the Turkish domestic market is gaining momentum. A new booking was heard on Wednesday in the Iskenderun region at $550/mt ex-works, up from $545-547/mt ex-works on Tuesday.
($1 = TRY7.82)