The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $255/mt cfr on Tuesday in a quiet market.
Negotiations are slow in the Turkish ferrous scrap market with most buyers and sellers remaining inactive. Turkish mills expect prices to decline to $250/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region amid lower demand and weak steel product sales. Some exporters believe that prices should reach $260/mt cfr on tight supply for May shipment but have decided to step back since it is doubtful to reach the expected price this week.
Turkish mills are trying to collect orders for steel products and are trying to keep prices flat despite difficulties with rebar sales. Local spot prices remained in the range of TRY3,300-3,370/mt ex-works, including 18pc VAT, on Tuesday, while export prices were at $415-420/mt fob.
Icdas and Izmir Demir Celik are selling rebar in the domestic market at TRY3,400/mt ex-works, including 18pc VAT. Kardemir announced rebar prices at TRY3,350.02/mt ex-works, including 18pc VAT.
Kardemir also opened 150x150mm billet sales on Tuesday at TRY3,026.70/mt ex-works, including 18pc VAT for S235JR grade, and at TRY3,062.10/mt ex-works, including 18pc VAT for III-3 grade. However, sales totaled only 14,000mt because of weak demand.
($1 = TRY6.98)