The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $2.75/mt to $496/mt cfr on Friday following postponed bookings.
Trading remains subdued in the Turkish ferrous scrap market with most mills delaying purchases in anticipation of lower prices as they believe there are enough cargoes available for August shipment from the US, the Baltic region, and the UK.
On the other hand, some scrap suppliers have stepped back from negotiations with Turkish mills to focus on their respective domestic markets, where they are likely to strike deals at a higher price. Others prefer to evaluate the market conditions amid anemic collections for August shipment.
Spot rebar prices in the Turkish domestic market remained unchanged at TRY7,250-7,450/mt ex-works, including 18pc VAT, on Friday.