The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.01/mt to $255.50/mt cfr on Tuesday.
Negotiations have started reviving slowly in the Turkish imported ferrous scrap market, with no deals reported so far. Suppliers from the US and Baltic region are offering HMS 1&2 (80:20) at $260/mt cfr, while bids vary in the range of $250-255/mt cfr. Most market participants expect some contracts to be signed later this week.
The most recent deals were closed on July 3 in Turkey at $255/mt cfr for Baltic-origin HMS 1&2 (80:20) and at $253/mt cfr for UK-origin HMS 1&2 (80:20).
Rebar prices remain unchanged
Daily domestic rebar spot prices in Turkey were flat at TRY3,340-3,410/mt ex-works, including 18pc VAT, on Tuesday. Rebar trading in Turkey has been slower this week than the last.
Turkish integrated mill Kardemir announced a domestic rebar price at TRY3,386.60/mt ex-works with 25pc payment in advance, 25pc in 30 days, 25pc in 60 days, and the remainder in 90 days for orders for 500mt and more. Kardemir also opened 150x150mm billet sales at TRY3,132.90/mt ex-works, including 18pc VAT for S420-B420 grade with deferred payment.
Exported rebar prices in Turkey were unchanged at $410-415/mt fob.
($1 = TRY6.86)