The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.35/mt to $457.50/mt cfr on Monday as suppliers remain firm on their higher-priced offers.
Negotiations were slow in Turkey on Monday with no deals heard amid scarce scrap offers as sellers expect prices above $460/mt cfr for HMS 1&2 (80:20). On the other hand, Turkish mills, still requiring significant tonnages of ferrous scrap for April shipment, are looking at a price range of $455-460/mt cfr for that grade from the USA or the Baltic region.
Turkish mills have continued to raise their purchase prices for domestic shipbreaking scrap, which settled at $425/mt delivered on Monday, up by $10/mt from Friday.
The daily domestic spot rebar prices in Turkey declined by TRY60-70/mt ($8-10/mt) to TRY5,530-5,580/mt ex-works, including 18pc VAT, on Monday due to currency fluctuations. Icdas decreased its local rebar prices by TRY100/mt and opened sales in Biga at TRY5,530/mt ex-works, including 18pc VAT, and in Istanbul at TRY5,610/mt ex-works, including 18pc VAT.
The daily exported rebar prices in Turkey remained unchanged at $640-645/mt fob.