The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $4.02/mt to $510.58/mt cfr on Thursday.
Prices rose following a new deal where an Iskenderun-based integrated steel mill purchased 9,500mt of HMS 1&2 (95:5), 7,500mt of rails and 12,000mt of P&S 5ft at an average price of $525/mt cfr from a Canadian supplier on Jun 9.
Some Turkish mills are looking for scrap cargoes for July shipment, while offers from the USA and Europe are limited amid firm domestic markets and limited availability of cargoes with significant shredded scrap and prime grades content from those regions. Some Baltic exporters are targeting $510-515/mt cfr for HMS 1&2 (80:20).
Spot rebar prices in the Turkish domestic market increased by TRY50-90/mt to TRY7,150-7,240/mt ex-works on Thursday amid improved sales. Icdas raised its local rebar prices by TRY90/mt to TRY7,300/mt ex-works Biga and TRY7,380/mt ex-works Istanbul. All domestic prices include 18pc VAT.
($1=TRY8.43)