The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was flat at $409.86/mt cfr on Friday as US suppliers continued sales at stable prices.
Three deals were reported at the end of the week. A Marmara-based mill purchased HMS 1&2 (80:20) at $410/mt cfr, shredded scrap at $415/mt cfr, and bonus material at $420/mt cfr from the USA and an Iskenderun-based mill reached a similar agreement with another American exporter. Both cargoes are due to be shipped in March.
One more booking was heard from the USA at $408/mt for HMS 1&2 (80:20) to a Marmara-based mill, but further details were not available at the time of publication. However, most market participants believe it was done earlier in the week.
Turkish producers are expected to continue scrap bookings next week, because of which, most Baltic and European sellers have opted to wait to achieve higher prices.
Suppliers in the Azov-Black Sea basin also target further increases. Thus, Romanian and Russian exporters are offering HMS 1&2 (80:20) and A3 material at $400/mt cfr and $410-415/mt cfr, respectively.
The daily domestic spot rebar price in Turkey increased by TRY40/mt ($6/mt) to TRY5,020-5,070/mt ex-works, including 18pc VAT, on Friday amid better demand. Icdas raised its local rebar prices by TRY70/mt ($10/mt) and opened sales in Biga at TRY5,030/mt ex-works, including 18pc VAT, and in Istanbul at TRY5,090/mt ex-works, including 18pc VAT.
The daily exported rebar prices moved to $600-605/mt fob versus $600/mt fob a day ago. Some deals were done to Israel and Yemen within the range, Davis Index learned.
($1=TRY7.02)