The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $461.94/mt cfr on Tuesday as the market awaits more bookings.
Turkish mills require ferrous scrap cargoes for September shipment and plan to continue purchasing at around $460/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region. Buyers declined offers that were higher than $465/mt cfr as they booked good tonnages last week. Besides, mills are referring to insufficient rebar sales for maintaining their bids.
Some short-sea cargo negotiations are progressing in the Azov-Black Sea basin with bids for HMS 1&2 (80:20) from Romania heard at $425/mt cfr Turkey and at $440-450/mt cfr for A3 material and HMS 1&2 (90:10) from Russia (Rostov-on-Don) and Ukraine.
Spot rebar prices in the Turkish domestic market decreased by TRY50/mt to TRY6,950-7,080/mt ex-works, including 18pc VAT, on Tuesday amid currency fluctuations and sluggish trading.
($1=TRY8.62)