The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.26/mt to $434.86/mt cfr on Thursday following new bookings from Europe and the Baltic region.
A Latvian exporter closed a deal with an Iskenderun-based mill at $440/mt cfr for 23,500mt for HMS 1&2 (80:20), $445/mt cfr for 5,000mt of shredded scrap, $450/mt cfr for 2,500mt of bonus material, $455/mt cfr for 1,700mt of busheling, and $455/mt cfr for 2,300mt of rails on Apr 29. The cargo is due to be shipped in the first half of June. The booking was received after the editorial deadline, so it was not included in the daily index.
On the same day, a Belgian recycler sold 20,000mt of HMS 1&2 (80:20), 10,000mt of shredded scrap, and 10,000mt of P&S, HMS 1 at an average price of $433.50/mt cfr to an Iskenderun-based mill.
A Marmara-based mill purchased HMS 1&2 (80:20) at $435/mt cfr and bonus material at $445/mt cfr from a Latvian supplier on Apr 28.
Offers from the USA and the Baltic region to Turkey rose to $445/mt cfr cfr for HMS 1&2 (80:20) on Thursday and to $435-440/mt cfr from Europe for the same grade on improved demand. Suppliers began offering shredded scrap for $450-460/mt cfr amid limited availability. Short-sea ferrous exporters also expect higher prices but prefer to wait until the next week to make new offers.
Daily domestic spot rebar prices in Turkey rebounded by TRY20-50/mt ($2-6/mt) to TRY6,050-6,120/mt ex-works on Thursday as trading revived. Still, Icdas decreased its local rebar prices by TRY50/mt to TRY6,060/mt ex-works Biga and TRY6,140/mt ex-works Istanbul. All domestic prices include 18pc VAT.