The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) dropped by $4.09/mt to $432.25/mt cfr on Monday on lower bids.
Turkish mills target a further price decrease for imported ferrous scrap citing oversupply and some have lowered bids to as low as $420-425/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.
No new deep-sea cargo bookings were reported but Turkish mills booked a few short-sea cargoes at lower prices. A supplier from Romania sold HMS 1&2 (80:20) at $395/mt cfr Turkey on Monday, while on Friday the same material traded at $400/mt cfr.
In the domestic market, Turkish mills lowered weekly purchase prices for shipbreaking scrap by $25/mt to $420/mt delivered mill.
Daily domestic spot rebar prices in Turkey dropped by TRY20-70/mt ($3-9/mt) to TRY5,450-5,600/mt ex-works, including 18pc VAT, on Monday amid a slowdown in trading. Still, Icdas raised its local rebar prices by TRY30/mt to TRY5,730/mt ex-works Biga and TRY5,810/mt ex-works Istanbul citing currency fluctuations. All domestic prices include 18pc VAT.