The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) dropped by $4.50/mt to $283.50/mt cfr on Thursday after Turkish mills achieved lower prices and resumed bookings.
New deals were heard in the Turkish imported ferrous scrap market on Thursday. In one transaction, a Marmara-based mill purchased 20,000mt of HMS 1&2 (80:20) at $285/mt cfr and 25,000mt of shredded scrap at $290/mt cfr from the USA for October shipment. The same producer bought HMS 1&2 (80:20) at $279.50/mt cfr and bonus material at $289.50/mt cfr from St Petersburg, Russia for November shipment.
Turkish scrap buyers became more active as they need cargoes for October and November shipment, but are determined to get the material at their price points. Most bids moved to around $280/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.
The daily domestic spot rebar prices in the Turkish market increase by TRY20-30/mt ($2.50-4/mt) to TRY4,110-4,150/mt ex-works, including 18pc VAT, on Thursday amid Turkish lira devaluation against the US dollar. Icdas raised its local rebar prices by TRY20/mt ($2.50/mt) to TRY4,240/mt ex-works, including 18pc VAT.
The daily exported rebar prices in Turkey moved to $450/mt fob from $450-455/mt fob amid sluggish sales.
($1 = TRY7.95)