The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $447.76/mt cfr on Tuesday as steelmakers returned to the market slowly.
Business activity is sluggish in the scrap market as Turkish mills are yet to resume negotiations after the Victory Day holiday on Aug 30. Steelmakers are evaluating their requirements and current availability of scrap before announcing firm bids. Purchases of October shipments cargoes are anticipated to start in September.
The most recent transaction in Turkey was fixed at $442/mt cfr for HMS 1&2 (80:20) from the EU late last week.
Spot rebar prices in the Turkish domestic market declined by TRY50/mt to TRY6,450-6,650/mt ex-works, including 18pc VAT, on Tuesday.
($1=TRY8.31)