The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.51/mt to $288.98/mt cfr on Thursday amid strong demand and high offers.
Ferrous scrap buyers remained active in the Turkish market because of which, sellers targeted higher prices. Exporters from the USA and the Baltic region have kept their offers for HMS 1&2 (80:20) at $295/mt cfr, while bids do not exceed $288/mt cfr. Some deals are anticipated over the next few days.
A fresh transaction was fixed in the Azov-Black Sea basin, with an exporter from Russia (Rostov-on-Don) closing a deal at $290/mt cfr Karadeniz for HMS 1&2 (90:10).
One more deal was circulating in the Turkish market, but it was done on August 24 and does not reflect market reality anymore. In this deal, a supplier from Belgium sold 15,000mt of HMS 1&2 (80:20) at $282/mt cfr, 15,000mt of shredded scrap at $287/mt cfr, and 10,000mt of bonus material at $292/mt cfr to an Iskenderun-based mill.
Daily domestic rebar spot prices in Turkey climbed by TRY10/mt ($1/mt) from the upper end of the previous range to TRY3,850-3,880/mt ex-works, including 18pc VAT, on Thursday, while exported rebar prices were flat at $440-445/mt fob.
($1 = TRY7.36)