The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.74/mt to $295.50/mt cfr on Monday with some mills looking for cargoes.
Turkish mills are expected to continue ferrous scrap bookings this week as they need cargoes for shipment in the second half of October and in November. Bids are being heard at $290-295/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region, while offers are reported at $297-300/mt cfr mainly from the Baltic region.
Lira devaluation affects rebar prices
Daily domestic spot rebar prices in Turkey surged by TRY90-110/mt ($12-14/mt) to TRY4,130-4,180/mt ex-works, including 18pc VAT, on Monday. Icdas announced a rebar price rise of TRY140/mt ($18/mt) to TRY4,230/mt ex-works, including 18pc VAT, while Bastug Metalurji’s price increased by TRY120/mt ($15/mt) to TRY4,220/mt ex-works, including 18pc VAT.
The daily exported rebar prices in Turkey remained unchanged at $455-460/mt fob.
($1 = TRY7.79)