The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $8.88/mt to $271.38/mt cfr on Wednesday, following a sale from the Baltic region.
There has been confirmation that a Karadeniz-based mill bought 17,000mt of HMS 1&2 (80:20) at $273/mt cfr, 14,000mt of shredded scrap at $278/mt cfr, and 4,000mt of busheling at $283/mt cfr from a Baltic exporter on Feb 11.
Another deal, which was completed on Feb 10, was reported in the Turkish srap market. An Izmir-based mill purchased 24,000mt of HMS 1&2 (80:20) at $268/mt cfr, 12,000mt of shredded scrap at $273/mt cfr, and 4,000mt of bonus material at $278/mt cfr from the US. The cargo will be shipped in March.
Scrap demand has improved in Turkey and suppliers are trying to raise prices. New offers increased to $275/mt cfr and higher for HMS 1&2 (80:20) from the US and Baltic region.
Scrap purchases are expected to continue in the Turkish market on the heels of some steel product sales, especially after mills sold more than 150,000mt of billet at $390-400/mt fob/exw this month.