The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was flat at $255/mt cfr on Wednesday amid low activity.
The situation in Turkey’s ferrous scrap import market hasn’t much changed—negotiations have been slow as most buyers have been inactive ahead of National Sovereignty and Children’s Day on April 23. Sellers, too, have been quiet because most of them don’t have cargoes for May shipment.
Although Turkish mills have yet to finish scrap bookings for May shipment, most of them will most likely resume purchases no earlier than next week.
The most recent transaction in Turkey was fixed on April 16, when an Iskenderun-based mill bought 10,000mt of HMS 1&2 (80:20) at $256.50/mt cfr, 14,000mt of shredded scrap at $261.50/mt cfr, and 6,000mt of P&S 5ft at $266.50/mt cfr from the US.
Scrap collection remain slow, so exporters have increased collection prices. On the US East Coast, dockside prices rose by $20-39/gt for all grades and dock locations. In the Netherlands and Belgium, dockside prices went up by €10-15/mt ($11-16/mt).
Rebar sales in Turkey have been sluggish ahead of the national holiday, with prices flat. Domestic spot prices are unchanged at TRY3,300-3,370/mt ex-works, including 18pc VAT, on Wednesday, while export prices vary in the range of $415-420/mt fob.
($1 = TRY6.98)
(€1 = $1.08)