The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.04/mt to $251.85/mt cfr on Monday, as a sale from the UK was reported.
A new transaction was fixed in Turkey’s ferrous scrap import market despite a national holiday—Eid al-Fitr. An Iskenderun-based mill purchased 20,000mt of HMS 1&2 (80:20) for $247/mt cfr from the UK.
Some Turkish mills booked enough scrap for June shipments. On May 20-22, nine deep- and four short-sea scrap cargoes, which combined 300,000mt, were purchased. However, according to market participants, additional cargoes are still needed, and some negotiations are ongoing in spite of the holiday.
Steel product prices flat in Turkey
Daily domestic rebar spot prices were flat at TRY3,230-3,290/mt ex-works, including 18pc VAT, on Monday.
Exported rebar prices in Turkey remained in the range of $400-405/mt fob, and exported billet prices were flat at $375/mt fob.
($1 = TRY6.81)