The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.15/mt to $257.65/mt cfr on Thursday after new deals were reported.

 

Turkish steelmakers continued ferrous scrap purchases and accepted higher prices to finalize the deals. An Iskenderun-based mill bought 30,000mt of shredded scrap at $263/mt cfr from Canada. The cargo is due to be shipped in July.

 

In another transaction, a Marmara-based mill closed a deal with a German supplier at an average price of $261/mt cfr for 14,000mt of HMS 1&2 (80:20), 5,000mt of P&S 5ft, 3,000mt of busheling and 3,000mt of oxy plates. An Izmir-based mill was reported to have booked a mixed composition cargo from a Belgian exporter at an average price of $261/mt cfr, with no more details disclosed.

 

Turkish producers are still looking for ferrous scrap cargoes, and most sellers are targeting a minimum price of $260/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.

 

Sales back in local rebar market

Daily domestic rebar spot prices climbed by TRY10/mt ($1/mt) across Turkey to settle at TRY3,290-3,370/mt ex-works, including 18pc VAT, on Thursday as sales revived.

 

Izmir Demir Celik raised local rebar prices by TRY40/mt ($6/mt) to TRY3,350/mt ex-works, including 18pc VAT, while Bastug Metalurji increased them by TRY80/mt ($12/mt) to TRY3,400/mt ex-works, including 18pc VAT.

 

Export rebar prices in the Turkish market rose by $5/mt to $410-415/mt fob.

 

($1 = TRY6.76)

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