The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $5.53/mt to $450.88/mt cfr on Wednesday as availability of the material increased.
Most mills are silent as demand for imported scrap declines. Turkish mills require 15-20 cargoes for April shipment but are targeting around $440/mt cfr for HMS 1&2 (80:20) from the USA or Baltic region as supply is outpacing demand. Negotiations for short-sea cargoes are also sluggish as most Turkish mills are not interested in purchases.
The daily domestic spot rebar prices in Turkey dropped by TRY70/mt ($9/mt) to TRY5,630-5,690/mt ex-works, including 18pc VAT on Wednesday due to slow trade, while daily rebar export prices continued to vary in the range of at $645-650/mt fob.