The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $502.93/mt cfr on Thursday as the market broke for the Ramadan Eid holidays.
Mills and suppliers paused their negotiations during the national Turkish holiday, which falls on May 13-14 this year, and neither bids nor offers were reported. Still, mills require cargoes for June and July shipment, and trading is expected to resume once buyers return from the holiday.
Spot rebar prices in the Turkish domestic market were flat at TRY7,070-7,170/mt ex-works, including 18pc VAT on Thursday amid holidays in the country. Exported rebar prices in Turkey also remained unchanged at $765-770/mt fob.
($1 = TRY8.50)