The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.99/mt to $510.38/mt cfr on Thursday following fresh bookings from the Baltic region and Europe.
An Iskenderun-based mill purchased HMS 1&2 (80:20) at $510/mt cfr and bonus material at $520/mt cfr from a Russian supplier (St Petersburg) for June shipment, while another mill from the same region bought HMS 1&2 (80:20) at $507.50/mt cfr from a Polish exporter. However, further details of this transaction were not available at the time of publication.
In the Azov-Black Sea basin a fresh transaction for HMS 1&2 (80:20) from Romania was fixed at $477/mt cfr Turkey.
Demand for ferrous scrap persists in Turkey because of which, Baltic and US suppliers have continued targeting $520/mt cfr for HMS 1&2 (80:20) and $530-550/mt cfr, respectively.
Spot rebar prices in the Turkish domestic market remained unchanged at TRY7,300-7,350/mt ex-works on Thursday. Icdas increased its local rebar prices by TRY40/mt to TRY7,420/mt ex-works Biga and TRY7,500/mt ex-works Istanbul. All domestic prices include 18pc VAT.
($1 = TRY8.38)