The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.39/mt to $482.50/mt cfr on Tuesday amid firm offers.
Turkish mills have temporarily stepped back from ferrous scrap purchases, focusing instead on steel product sales. However, scrap suppliers have remained firm on their offers. Some cargoes are currently available for March shipment from the USA and the Baltic region at $485-490/mt cfr and $480-485/mt cfr, respectively, for HMS 1&2 (80:20).
The most recent transaction in Turkey was fixed at $485/mt cfr for HMS 1&2 (90:10) and at $492/mt cfr for shredded scrap and bonus material from the USA on Jan 8, as reported by Davis Index recently.
The daily domestic spot rebar prices in Turkey remained unchanged at TRY5,670-5,720/mt ex-works, including 18pc VAT, on Tuesday amid moderate trading activity and minor currency fluctuations.
The daily exported rebar prices moved to $650/mt fob on Tuesday from $645-650/mt fob on Monday. Two Turkish mills sold large cargoes (50,000mt each) of rebar to Hong Kong at around $650/mt fob recently. Some producers announced new offers at $660-665/mt fob.
($1 = TRY7.49)