The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.83/mt to $420/mt cfr on Thursday on the imminent return of buyers.
Trading is expected to revive in the Turkish imported ferrous scrap market as suppliers hope to resume negotiations with mills that need to complete their purchases for April and bookings for May shipments.
In the domestic market, Turkish steelmakers have raised purchase prices for shipbreaking scrap by $5/mt to $385/mt delivered since Tuesday.
Daily domestic spot rebar prices in Turkey remained unchanged at TRY5,520-5,620/mt ex-works on Thursday, while Icdas decreased its local rebar prices by TRY50/mt to TRY5,800/mt ex-works Biga and TRY5,880/mt ex-works Istanbul. All domestic prices include 18pc VAT.
Weekly exported rebar prices dropped by $10/mt to $620-630/mt fob on Thursday. Still, the availability of Turkish long products is limited as mills are well booked for April and May shipments.