The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) dropped by $5.03/mt to $449.85/mt cfr on Friday after a new sale was reported.
An Iskenderun-based mill purchased 20,000mt of HMS 1&2 (80:20) at $450/mt cfr, along with 7,000mt of shredded scrap and 3,000mt of bonus material at $470/mt cfr from a US supplier.
Bids in Turkey fell below $450/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region at the end of the week. Turkish mills continue to achieve lower prices amid a high availability of heavy melt in the global market. Prices are under pressure despite the absence of some suppliers who can’t collect the material and robust prices for prime grades amid strong demand at alternative outlets. Two large cargoes of prime grades were supplied from Canada to European mills through Rotterdam port.
Spot rebar prices in the Turkish domestic market were unchanged at TRY6,700-6,800/mt ex-works on Friday. Icdas raised its local rebar prices by TRY80/mt to TRY6,800/mt ex-works Biga and TRY6,880/mt ex-works Istanbul. All these prices include 18pc VAT.