The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $242.90/mt cfr on Tuesday.

 

Turkey’s imported ferrous scrap market was quiet with no bids or offers reported for scrap because of Ataturk Commemoration, Youth and Sports day – a national holiday in the country. However, business activity could revive later this week as mills still require cargoes for June shipment.

 

The most recent transactions in Turkey were fixed at $243/mt cfr for HMS 1&2 (80:20) from the USA and at $238/mt cfr for the same grade material from the EU late last week.

 

Purchase prices for shipbreaking scrap remained at $235/mt delivered in the domestic market in Turkey.

 

Steel product prices unchanged

Turkey’s daily domestic rebar spot prices remained in the range of TRY3,220-3,280/mt ex-works, including 18pc VAT on Tuesday amid the national holiday.

 

Exported rebar and billet prices in Turkey were also unchanged at $395-400/mt fob and at $370-375/mt fob, respectively.

 

($1 = TRY6.78)

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