The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $1.75/mt to $295/mt cfr on Monday as buyers stayed away from the market.

 

Bookings are still missing as buyers remain inactive in anticipation of deals being priced at a potential maximum of $295/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region.

 

Scrap suppliers, on the other hand, have opted to wait in the hope of demand improving later this week as some mills are yet to finish bookings for October shipment.

 

The Turkish market has remained quiet since September 11 as steelmakers stepped back after buying significant tonnages of the material amid a slowdown in rebar sales.

 

Rebar prices move sideways

Daily spot rebar prices in Turkey climbed by TRY10/mt ($1/mt) from the lower end of the previous range to TRY4,050-4,080/mt ex-works, including 18pc VAT, on Monday. Icdas raised its local rebar prices by TRY10/mt ($1/mt) to TRY4,130/mt ex-works, including 18pc VAT.

 

Exported rebar prices in Turkey were flat at $455-460/mt fob on Monday.

 

($1 = TRY7.60)

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