The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by $1.45/mt to $431.78/mt cfr on Friday on a sale from Canada.
An Iskenderun-based mill purchased 35,000mt of HMS 1&2 (95:5) and 15,000mt of shredded scrap at an average price of $436/mt cfr from Canada. The supplier has potentially sold one more cargo to Turkey but no details were available at the time of publication.
Turkish mills continue to seek scrap cargoes amid healthy steel product sales but have pushed back on higher prices. Suppliers who offered cargoes at heavy melt price levels of $435/mt cfr and higher have not yet seen those levels materialize. Bids were heard at no higher than $430/mt cfr for premium quality HMS 1&2 (80:20) on Friday.
Several suppliers have offered material in a bid to secure sales ahead of the Ramadan holidays and Turkish mills are confident they will be able to secure their requirement without having to drive up prices.
Daily domestic spot rebar prices in Turkey were flat at TRY5,900-5,970/mt ex-works, including 18pc VAT, on Friday. Domestic rebar sales remained slow, while billets sales picked up. Several cargoes of semis traded at around $585/mt ex-works in Iskenderun.