The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.05/mt to $285/mt cfr on Tuesday with no bookings reported.

 

The ferrous scrap market in Turkey was quiet after Turkish mills completed purchasing significant tonnages of the material last week and opted to wait with further bookings. Offers were also few and were reported at above $285/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region.

 

The most recent transactions in Turkey were fixed at $285/mt cfr for US and Baltic-origin HMS 1&2 (80:20) late last week.

 

Kardemir announced steel product prices

Turkish integrated steel mill Kardemir opened rebar sales at TRY3,870.40/mt ex-works, including 18pc VAT on Tuesday, and has sold 26,000-27,500mt for now. 

 

Moreover, the company announced 150×150 billet prices at TRY3,599/mt ex-works, including 18pc VAT for S235JR, and at TRY3,640.30/mt ex-works, including 18pc VAT for S420-B420. 

 

The mill decided to close sales of semis at the end of the day, which traded actively and amounted 82,500mt. Several market participants noted that they expected Kardemir to open sales at higher prices.

 

Daily domestic rebar spot prices declined by TRY20/mt ($3/mt) across Turkey to TRY3,810-3,860/mt ex-works, including 18pc VAT on Tuesday, on severe currency fluctuations, which affected business activity.

 

Exported rebar prices in Turkey were flat at $440/mt fob.

 

($1 = TRY7.24)

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