The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $1.62/mt to $444.77/mt cfr on Tuesday following four new transactions.
A Marmara-based mill purchased around 15,000mt of HMS 1&2 (80:20) at $445/mt cfr and around 25,000mt of shredded scrap at $460/mt cfr from a large US supplier. The same steelmaker closed a deal with a European exporter at $437/mt cfr for HMS 1&2 (80:20).
An Izmir-based mill bought a 42,000mt-cargo from the UK at an average price of $449/mt cfr. The cargo will include a minimum of 10,000mt of shredded scrap and the balance of HMS 1&2 (80:20). In another transaction, an Iskenderun-based mill purchased a full cargo of HMS 1&2 (80:20) at $435/mt cfr from the Netherlands.
Ferrous scrap bookings for October shipment are underway with several Turkish mills looking for cargoes though one steelmaker was heard asking for offers for September shipment as well.
Spot rebar prices in the Turkish domestic market climbed by TRY30/mt to TRY6,445-6,580/mt ex-works, including 18pc VAT, on Tuesday amid currency fluctuations.
($1=TRY8.35)