The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $450.50/mt cfr on Thursday due to a lack of transactions.
Negotiations remain slow in the imported ferrous scrap market, though some Turkish mills are mulling booking at around $450/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region for September and October shipment. Still, only a few cargoes are available now since most suppliers have sold most of their material in recent weeks. An exporter from Russia was heard to be offering a deep-sea cargo of HMS 1&2 (95:5) at $475/mt cfr Turkey.
Spot rebar prices in the Turkish domestic market decreased by TRY30-100/mt to TRY6,500-6,700/mt ex-works, including 18pc VAT, on Thursday following slow trade. A Turkish mill was heard to have sold 45,000-50,000mt of rebar after providing a significant discount.
In the exported rebar market, prices dropped by $5-10/mt to $680-690/mt fob actual weight. Still, only small cargoes were sold to the Middle East and North Africa region.