The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was flat at $272.50/mt cfr on Wednesday, as no trading took place.
All Turkish mills require scrap cargoes for April shipment, and while there are still no purchases, some mills have begun inquiring about scrap availability and prices. US and European suppliers, however, have deferred tendering offers to Turkey until sales to their domestic markets conclude.
Although no trade is presently occurring in the Azov-Black Sea basin, some mills are in the market for short-sea cargoes.
There were no significant steel product sales reported in the Turkish market. Local rebar prices decreased by Try50/mt ($8/mt) in Izmir and Karabuk, by Try60/mt ($10/mt) in Iskenderun, and by Try70/mt ($12/mt) in Istanbul. As a result, the general range moved to Try3,100-3,140/mtex-works on Wednesday, down from Try3,150-3,210/mtex-works yesterday. Billet prices also declined by $5/mt to $415/mt fob/ex-works because business is slow.
US$1 = TRY 6.08