The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) fell by $10.66/mt to $436.34/mt cfr on Friday on a new sale from Russia.
A supplier from St Petersburg closed a deal with a Marmara-based mill at $437/mt cfr for HMS 1&2 (80:20) and at $447/mt cfr for bonus scrap. The cargo will comprise 30,000mt and is due to be shipped in the first half of May.
In addition, a deal by an international trader comprising Baltic-origin HMS 1&2 (80:20) at $435/mt cfr and bonus material at $445/mt cfr Turkey was circulated in the market today, but the transaction could not be confirmed at the time of publication.
Most Turkish scrap importers remain inactive, while a number of sellers are in the market. Some exporters are apparently ready to sell at $435-437/mt cfr, but ideal bids have now dropped to $430/mt cfr for US-origin HMS 1&2 (80:20).
In the Azov-Black Sea basin there were sporadic deals this week. A supplier from Romania sold HMS 1&2 (80:20) at $425/mt cfr mid-week, while an exporter from Ukraine sold HMS 1&2 (90:10) at $435/mt cfr early in the week.
Daily domestic spot rebar prices in Turkey moved to TRY5,520-5,620/mt ex-works on Friday, down from TRY5,550-5,580/mt ex-works a day earlier. Icdas raised its local rebar prices by TRY75/mt to TRY5,700/mt ex-works Biga and TRY5,780/mt ex-works Istanbul. All domestic prices include 18pc VAT.
Daily rebar export prices in Turkey remained unchanged at $645/mt fob on Friday.