The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $500/mt cfr on Friday.
Turkish mills continue bidding $490-495/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region, while suppliers from these regions are targeting above $500/mt cfr.
In the meantime, a European exporter reduced offers after the euro weakened against US dollar. The seller is now asking $496/mt cfr for HMS 1&2 (80:20) and $511/mt cfr for bonus material.
Trading remains muted in the Azov-Black Sea basin on the lack of availability of shredded scrap and prime grades, which are in high demand in Turkey.
Spot rebar prices in the Turkish domestic market inched up by TRY20/mt from the lower end of the previous range to TRY7,250-7,350/mt ex-works on Friday. Icdas increased its local rebar prices by TRY30/mt to TRY7,470/mt ex-works Biga and TRY7,550/mt ex-works Istanbul. All domestic prices include 18pc VAT.
($1=TRY8.73)