The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $251.85/mt cfr on Wednesday.
Activity in Turkey’s ferrous scrap market has been slow of late, however, new deals are possible this week because some mills are looking for short- and deep-sea cargoes. Firm bids were not reported, but producers intend to continue booking at around $250/mt cfr for HMS 1&2 (80:20) from the US and the Baltic region, while exporters are targeting $255-260/mt cfr.
The most recent contract in Turkey was signed for $247/mt cfr for HMS 1&2 (80:20) from the UK, as Davis Index reported Monday.
Daily domestic rebar spot prices climbed by TRY10/mt ($1/mt) in Izmir and Iskenderun, but were flat in Istanbul and Karabuk. As a result, prices varied on Wednesday in the range of TRY3,240-3,300/mt ex-works, including 18pc VAT.
Rebar and billet export prices in the Turkish market remained at $400-405/mt fob and at $375/mt fob, respectively.
($1 = TRY6.77)