The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.06/mt to $454.88/mt cfr on Wednesday following new deals from the EU and the Baltic region.
An exporter from Belgium sold 25,000mt of HMS 1&2 (80:20), 7,500mt of shredded scrap, and 7,500mt of bonus material at an average price of $451/mt cfr to a Karadeniz-based mill today. On Aug 17, a supplier from Finland sold 13,000mt of HMS 1&2 (80:20) at $457/mt cfr and 17,000mt of shredded scrap at $473/mt cfr to an Izmir-based mill.
Negotiations for September and October shipments are progressing though the gap between bids and offers remains. Mills have raised their bids for HMS 1&2 (80:20) from the USA and the Baltic region to $453-455/mt cfr from $450-453/mt cfr but offers have remained at a minimum of $460/mt cfr.
Spot rebar prices in the Turkish domestic market dropped by TRY90-100/mt to TRY6,650-6,760/mt ex-works on Wednesday. Icdas reduced its local rebar prices by TRY190/mt to TRY6,720/mt ex-works Biga and TRY6,800/mt ex-works Istanbul. All these prices include 18pc VAT.
Kardemir opened its rebar sales at TRY5,625/mt ex-works, excluding 18pc VAT, and closed them after selling 43,500-45,000mt.
($1=TRY8.49)