The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $6.64/mt to $230.86/mt cfr on Monday as a sale from the UK, done last week, was reported.
An Iskenderun-based mill purchased HMS 1&2 (80:20) at $226/mt cfr from the UK on March 19.
Buyers continue to target $230/mt cfr for HMS 1&2 (80:20) from the US or the Baltic region with some importers expecting a further price drop to $220/mt cfr.
Bids from Turkish mills are reported at $215-220/mt cfr for short-sea scrap, but no trading has been reported in the Azov-Black Sea basin.
Turkish rebar sales remain slow because of weak demand. Spot rebar prices settled at TRY3,020-3,100/mt ex-works, including 18pc VAT on Monday versus TRY3,070-3,140/mt ex-works on Friday, after local rebar prices decreased by TRY30/mt ($4.50/mt) in Izmir and Karabuk, by TRY40/mt ($6/mt) in Istanbul, and by TRY50/mt ($8/mt) in Iskenderun.
Icdas dropped rebar prices by TRY60/mt ($9/mt) to TRY3,200/mt ex-works, including 18pc VAT in Biga.
($1 = TRY6.60)