The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) rose by $1.43/mt to $260.25/mt cfr on Thursday as negotiations intensified.
More bids and offers are being heard in the Turkish ferrous scrap market with some bids from mills looking for August shipments being reported at around $260/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region. However, there is a dearth of offers as there are only some Baltic suppliers and a few US exporters left. As a result, these suppliers are targeting a further price increase, to around $265/mt cfr.
The most recent booking in Turkey was heard at $259/mt cfr for HMS 1&2 (80:20) from the Baltic region early this week.
Rebar prices rising
Daily domestic rebar spot prices went up by TRY10-20/mt ($1-3/mt) across Turkey to TRY3,420-3,440/mt ex-works, including 18pc VAT, on Thursday. Bastug Metalurji raised local rebar prices by TRY40/mt ($6/mt), to TRY3,480/mt ex-works, including 18pc VAT.
Exported rebar prices moved to $415-420/mt fob Turkey versus $415/mt fob earlier.
($1 = TRY6.86)