The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by $1.19/mt to $512/mt cfr on Wednesday due to lower bids.
Demand for imported ferrous scrap remains weak in Turkey, but some mills may consider purchasing cargoes with significant shredded scrap and primary grade content at around $510/mt cfr for HMS 1&2 (80:20). Offers from the USA to Turkey were heard at $520-525/mt cfr for HMS 1&2 (80:20) on Wednesday.
For any other cargo content, firm bids in Turkey fell to $500-503/mt cfr.
Spot prices for rebar decreased by TRY50/mt to TRY7,150-7,200/mt ex-works, including 18pc VAT, on Wednesday on sluggish rebar sales. In the export market Turkish mills have kept offers at around $800/mt fob and are ready to accept $780/mt fob for firm inquiries, though deals are missing.
($1 = TRY8.45)