The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $4.72/mt to $264.92/mt cfr on Monday amid continued trading for imported ferrous scrap.
A new sale was reported from the Baltic region on Monday in which a Marmara-based mill purchased 29,000mt of HMS 1&2 (80:20) at $265/mt cfr and 6,000mt of bonus material at $275/mt cfr from a Latvian supplier. Previous deals for Baltic-origin HMS 1&2 (80:20) were fixed at $260-261.50/mt cfr Turkey late last week.
Persistent demand for ferrous scrap and active steel product sales in the Turkish market has prompted US and Baltic region-based sellers to increase their offer price targets to $270/mt cfr for HMS 1&2 (80:20) as the number of offers for August shipments dwindles.
In the domestic market, Turkish mills have raised purchase prices for shipbreaking scrap by $3/mt to $258/mt delivered since Friday.
Local rebar price uptrend continues
Daily domestic rebar spot prices inched up by TRY10-20/mt ($1-3/mt) across Turkey to TRY3,460-3,500/mt ex-works, including 18pc VAT, on Monday amid active trading. Izmir Demir Celik raised local rebar prices by TRY20/mt ($3/mt) to TRY3,500/mt ex-works, including 18pc VAT.
Exported rebar prices remained flat in Turkey at $420/mt fob.
($1 = TRY6.86)