The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $4.36/mt to $502.31/mt cfr on Friday after a new sale was reported.
A Marmara-based mill was heard to have purchased HMS 1&2 (80:20) at $502-503/mt cfr and shredded scrap at $512-513/mt cfr from a US supplier on Friday.
Demand for the imported ferrous scrap was sluggish in Turkey during the week, though some mills from Marmara, Iskenderun, and Karadeniz regions were looking for cargoes today. Still, bids were heard at $500/mt cfr or below for HMS 1&2 (80:20) from the USA and the Baltic region, while the lowest offers were reported at $505/mt cfr.
Sporadic transactions were also heard in the Azov-Black Sea basin, including a sale from Rostov-on-Don to Turkey at $487/mt cfr for A3 material.
Spot rebar prices in the Turkish domestic market were flat at TRY7,050-7,120/mt ex-works on Friday. Icdas raised its local rebar prices by TRY150/mt to TRY7,580/mt ex-works Biga and TRY7,660/mt ex-works Istanbul amid currency fluctuations, while Bastug Metalurji kept them unchanged at TRY7,600/mt ex-works. All domestic prices include 18pc VAT.
($1 = TRY8.58)