The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $4.18/mt to $332.18/mt cfr on Thursday after a new booking from Europe was reported and offers moved higher.
A Karadeniz-based integrated steel mill purchased 15,000mt of HMS 1&2 (75:25), 12,000mt of shredded scrap, 12,000mt of bonus material, and 3,000mt of cut rebar at an average price of $333/mt cfr from a Belgian supplier on Nov 19. The cargo is due to be shipped in early January.
Market participants noted some other deals from the UK and Europe that were closed, but further details were not available at the time of publication.
Exporters from the USA and the Baltic region raised offers to $340/mt cfr and higher for HMS 1&2 (80:20) after recent transactions as several Turkish mills are still searching for scrap cargoes.
Turkey’s daily spot rebar prices remained unchanged at TRY4,480-4,520/mt ex-works, including 18pc VAT, on Thursday. Kardemir sold around 35,000mt of rebar at TRY4,548.90/mt ex-works, including 18pc VAT, and closed sales.
The daily exported rebar prices in Turkey were flat at $490-500/mt fob on Thursday. Turkish mills are firm amid limited availability of the product. A rebar sale to Brazil was heard within the mentioned range.
($1 = TRY7.59)