The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by $0.64/mt to $250.83/mt cfr on Tuesday.
Negotiations moved slowly in Turkey’s ferrous scrap market. Some offers from the US and the Baltic region were reported at around $255/mt cfr for HMS 1&2 (80:20), while sporadic bids were placed at $245-250/mt cfr. Some European suppliers asked for the same grade at around $250/mt cfr.
Most Turkish mills prefer waiting to purchase until the end of the week, or even until next week, as they watch how steel products sell.
Local rebar sales revived
Daily domestic rebar spot prices in Turkey inched up by TRY10-20/mt ($1-3/mt) to TRY3,350-3,400/mt ex-works, including 18pc VAT, on Tuesday amid improved trading, however, daily exported rebar prices remained flat at $415/mt fob in an inactive market.
($1 = TRY6.86)