The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was flat at $294/mt cfr on Tuesday amid halted trading.

 

Negotiations are sluggish in the Turkish imported ferrous scrap market as buyers and sellers have already booked significant tonnages at the end of October and are now assessing the market conditions to work out their pricing strategy. As a result, firm bids and offers for scrap are missing.

 

The most recent deals in Turkey were done at $292-295/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region at the beginning of last week, as Davis Index reported earlier. Some mills have already started purchases for December shipment, but the main requirements are yet to be covered.

 

The daily spot rebar prices in Turkey rose by TRY50-60/mt ($6-7/mt) to TRY4,520-4,630/mt ex-works on Tuesday amid a weak Turkish lira. Icdas chose to increase its local rebar prices by TRY50/mt ($6/mt) to TRY4,610/mt ex-works, while Bastug Metalurji raised them by TRY90/mt ($11/mt) to TRY4,590/mt ex-works. All domestic prices include 18pc VAT.

 

The daily exported rebar prices in Turkey continued to vary in the range of $450-460/mt fob on Tuesday.

 

($1 = TRY8.42)

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