The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $1.96/mt to $284.88/mt cfr on Monday after a new booking was reported.

 

On Monday, an Izmir-based mill purchased HMS 1&2 (80:20) at $285/mt cfr, shredded scrap at $290/mt cfr and bonus material at $295/mt cfr from the USA.

 

Demand for imported ferrous scrap increased in the Turkish market as negotiations began at the beginning of the week, and first deal was already reported. More transactions are expected as Turkish steelmakers need cargoes for November shipment. As a result, scrap suppliers are now targeting $290/mt cfr for HMS 1&2 (80:20) from the US and the Baltic region.

 

Steel product sales make progress

The daily domestic spot rebar prices were unchanged at TRY4,110-4,150/mt ex-works, including 18pc VAT, on Monday, though trading revived. Icdas decreased its local rebar prices by TRY40/mt ($5/mt) to TRY4,200/mt ex-works, including 18pc VAT.

 

The daily exported rebar prices remained unchanged in the range of $445-450/mt fob, but many negotiations revived.

 

A Karadeniz-based mill was heard to have sold 30,000-35,000mt of billet to Peru at $421/mt fob recently. Some more transactions are possible in the short term as mills receive inquiries from Morocco and European countries.

 

($1 = TRY7.86)

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