The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $275/mt cfr on Monday, with no new deals to report.
Turkey’s ferrous scrap market was quiet to begin the week. Although the country’s mills have yet to purchase more than 30 deep-sea cargoes for April shipment, negotiations were non-existent Monday.
However, some transactions occurred last week. One deal was fixed in the Azov-Black Sea basin—on March 5, Romanian-origin HMS 1&2 (80:20) was sold for $266/mt cfr to Turkey. There was another deal in the Baltic region on March 2, in which a Russian supplier from St Petersburg traded HMS 1&2 (80:20) for $276/mt cfr Izmir in a mixed composition cargo.
Activity in Turkey’s rebar market remains muted, but local prices increased by TRY10/mt ($2/mt) in Istanbul, by TRY30/mt ($5/mt) in Izmir and Karabuk, and by TRY40/mt ($6.50/mt) in Iskenderun on Monday to TRY3,050-3,100/mt ex-works. Export rebar prices are flat at around $435/mt fob.
US$ 1 = TRY 6.13