The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $2.13/mt to $272.87/mt cfr on Wednesday, with a new sale from the Baltic region.

 

After a period of inactivity, Turkish mills have resumed purchasing ferrous scrap, with four new deals to report. A Marmara-based mill reached an agreement with a supplier from Poland. Although full contract details have not been fully disclosed, Davis Index was informed that HMS 1&2 (80:20) was traded at $273/mt cfr.

 

Other transactions were fixed in the Azov-Black Sea basin. An exporter from Russia (Rostov-on-Don) sold HMS 1&2 (90:10) at $270/mt cfr Turkey, while HMS 1&2 (80:20) from Romania changed hands at $265/mt cfr Turkey and HMS 1&2 (80:20) from Bulgaria traded at $262/mt cfr Turkey.

 

Turkish mills are expected to keep purchasing ferrous scrap for their April shipments, and their purchase price for shipbreaking scrap in the domestic market rose by $7/mt to $275/mt delivered on Wednesday.

 

US suppliers have been absent in Turkey, as they’re currently doing business in other markets. A West Coasts supplier traded shredded scrap at $283/mt cfr to Bangladesh.

 

Turkish rebar prices are generally flat. Local prices were unchanged in Istanbul and Karabuk, but climbed by TRY10/mt ($2/mt) in Iskenderun, and by TRY20/mt ($3/mt) in Izmir, and settled at TRY3,040-3,100/mt ex-works on Wednesday from TRY3,030-3,100/mt ex-works on Tuesday.

 

Turkish integrated mill Kardemir announced a domestic rebar price at TRY3,115.20/mt ex-works with 25pc payment in advance, 25pc in 30 days, 25pc in 60 days, and the remainder in 90 days for orders for 500mt and more.

$1 = TRY6.20

 

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