The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $12.76/mt to $470.86/mt cfr on Wednesday following fresh bookings from the Baltic region and Europe.
A Karadeniz-based mill purchased HMS 1&2 (80:20) at $471/mt cfr and shredded scrap at $481/mt cfr from a Baltic supplier and closed a deal with a German recycler at $463/mt cfr for HMS 1&2 (80:20), $468/mt cfr for shredded scrap and $473/mt cfr for bonus material.
US exporters raised offers to $480-490/mt cfr for HMS 1&2 (80:20) as some Turkish mills are looking for cargoes with a significant portion of shredded scrap amid strong demand.
The Turkish rebar market continues to trend up with new sales heard at $690-695/mt fob and offers rising to $700-710/mt fob.
Spot rebar prices in the Turkish domestic market increased by TRY90-100/mt to TRY6,650-6,720/mt ex-works on Wednesday amid lively sales. Icdas raised its local rebar prices by TRY140/mt to TRY6,700/mt ex-works Biga and TRY6,780/mt ex-works Istanbul. All domestic prices include 18pc VAT.
Kardemir sold 24,000mt of rebar after opening sales at TRY6,578.50/mt ex-works, including 18pc VAT on Wednesday.