The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) held unchanged at $457.50/mt cfr on Tuesday as negotiations are yet to bring deals.
Turkish mills that are looking for cargoes are aiming to purchase HMS 1&2 (80:20) from the USA or the Baltic region at $455-460/mt cfr, while most suppliers prefer to postpone negotiations, anticipating higher prices. As a result, transactions are missing from the market.
Some Turkish mills are looking to increase their scrap purchases from the domestic market. Thus, they raised purchase prices for shipbreaking scrap in the Izmir region by $10/mt to $435/mt delivered on Tuesday.
The daily domestic spot rebar prices in Turkey moved to TRY5,540-5,570/mt ex-works on Tuesday versus TRY5,530-5,580/mt ex-works on Monday. Icdas increased its local rebar prices by TRY20/mt ($3/mt) and opened sales in Biga at TRY5,550/mt ex-works and at TRY5,630/mt ex-works in Istanbul. All domestic prices include 18pc VAT.
The daily exported rebar prices in Turkey remained flat at $640-645/mt fob.
($1=TRY7.41)