The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.87/mt to $502.50/mt cfr on Tuesday amid strong demand and buoyant steel product sales.
US and Baltic suppliers have raised their offers for HMS 1&2 (80:20) to $510/mt cfr after a few bookings were heard at around $500/mt cfr. US exporters resumed sales to Turkey today after a long hiatus, following robust buying activity in the Turkish imported ferrous scrap market.
Turkish mills continued achieving higher prices in steel product sales with a fresh rebar export sale heard at $750/mt fob actual weight to Europe. Moreover, two large cargoes of billet were sold to China at $690/mt fob and $700/mt fob. The same price levels were fixed in domestic billet deals.
Spot rebar prices in the Turkish domestic market increased by TRY50-90/mt to TRY7,070-7,170/mt ex-works on Tuesday. Icdas raised its local rebar prices by TRY20/mt to TRY7,140/mt ex-works Biga and TRY7,220/mt ex-works Istanbul. All domestic prices include 18pc VAT.