The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.65/mt to $450.50/mt cfr on Wednesday after most sellers refused bids below $450/mt cfr.
Some Turkish mills looking for deep-sea scrap cargoes for September and October shipment are bidding $449-450/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region. Most suppliers consider these price levels as unacceptable and stepped back from the market this week.
An Iskenderun-based mills was heard to have purchased 22,500mt of HMS 1&2 (80:20) and 12,500mt of bonus material at an average price of $450/mt cfr from a European exporter for prompt shipment.
Spot rebar prices in the Turkish domestic market declined by TRY50/mt to TRY6,600-6,730/mt ex-works, including 18pc VAT, on Wednesday.
Kardemir opened its 150×150 billet sales at $638/mt ex-works for S235JR grade and at $643/mt ex-works for the B420 grade on Wednesday. The producer sold only 17,500mt of semis as imported billet is available at $620-625/mt cfr Turkey.