The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $3.50/mt to $260/mt cfr on Friday amid sluggish buying activity.

 

Supply exceeded demand in the market Turkish ferrous scrap market at the end of the week and some Baltic suppliers failed to elicit Turkish buyers’ interest in their offers to sell HMS 1&2 (80:20) at around $260/mt cfr. Most mills have decided to step back, anticipating prices to drop to $250/mt cfr as availability of scrap is high.

 

A few transactions were heard in the Azov-Black Sea basin as exporters accepted lower prices. Thus, HMS 1&2 (80:20) from Romania changed hands at around $250/mt cfr Turkey.

 

Rebar sales remained slow

Daily domestic rebar spot prices declined by TRY20/mt ($3/mt) across Turkey and settled at TRY3,400-3,450/mt ex-works, including 18pc VAT, on Friday amid slow trading.

 

Exported rebar and billet prices in the Turkish market were unchanged at $415-420/mt fob and at $395-405/mt fob, respectively, with no deals reported.

 

($1 = TRY6.85)

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