The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.19/mt to $290/mt cfr on Monday as suppliers held on to their higher offer prices, despite a quiet market.
Turkey’s ferrous scrap import market was calm though some deals are expected as September begins since most mills need cargoes for October shipment. Although buyers were quiet on Monday, most suppliers are confident about prices increasing further with exporters from the US and Baltic regions continuing to target $295-300/mt cfr Turkey for HMS 1&2 (80:20).
In the domestic market, Turkish mills raised purchase prices for shipbreaking scrap by $1/mt to $276/mt delivered.
Local rebar prices rise
Daily domestic rebar spot prices in Turkey increased by TRY20-30/mt ($3-4/mt) to TRY3,880-3,900/mt ex-works, including 18pc VAT, on Monday as demand strengthened. Icdas decided to raise its local rebar prices by TRY30/mt ($4/mt) to TRY3,950/mt ex-works, including VAT.
Turkish exported rebar prices were unchanged at $440-445/mt fob.
($1 = TRY7.36)