The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $3.32/mt to $242.92/mt cfr on Tuesday after a fresh sale from the US was reported.
A Marmara-based mill purchased 15,000mt of HMS 1&2 (95:5) at $245/mt cfr, 12,000mt of shredded scrap at $248/mt cfr, and 3,000mt of P&S at $253/mt cfr from the US on April 6 for May shipment.
Some Turkish mills are looking for ferrous scrap cargoes and looking to sellers for offers. However, a number of suppliers don’t have any material due to the sharp decline in collections, the result of slow inflows from industry, demolitions, and household. Other exporters are targeting further price increases. As a result, there have been some offers reported at $260/mt cfr or higher for HMS 1&2 (80:20) from the US and the Baltic region.
As the price of imported scrap rises, Turkish mills in Izmir region raised their purchase prices for local shipbreaking scrap by $5/mt to $220/mt delivered. There are 22 shipbreaking companies in Aliaga, but only three of them have suspended operations due to the COVID-19 outbreak. Through the first three months of 2020, 31 ships were broken, which provided 157,000mt of scrap. During the first three months of 2019, 35 ships were broken, which delivered 288,000mt of scrap.
Local rebar spot prices increased by TRY40-80/mt ($6-12/mt) across the Turkey, and settled at TRY3,200-3,240/mt ex-works, including 18pc VAT, on Tuesday.
Bastug Metalurji announced rebar prices at TRY3,250/mt ex-works, including 18pc VAT.
($1 = TRY6.76)