The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $251.85/mt cfr on Tuesday amid the Eid al-Fitr holidays.
Turkey’s imported ferrous scrap market is generally calm during these holidays. However, according to market participants, some current negotiations may result in deals later in the week. Scrap suppliers are targeting $255-260/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.
The most recent transaction was finalized at $247/mt cfr Iskenderun for UK-origin HMS 1&2 (80:20).
Daily domestic rebar spot prices in Turkey continued to trend in the range of TRY3,230-3,290/mt ex-works, including 18pc VAT, on Tuesday.
Exported rebar and billet prices in the Turkish market remained at $400-405/mt fob and at $375/mt fob, respectively.
($1 = TRY6.73)