The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $484.89/mt cfr on Friday amid sluggish negotiations.
Business activity remained slow ahead of the Kurban Bayrami holiday on Jul 19-23 with most mills expected to continue their purchases for August shipment only after this national holiday.
The most recent deals in Turkey were reported at $485/mt cfr for HMS 1&2 (80:20) from the USA and at $489/mt cfr for HMS 1&2 (95:5) from Canada early this week though negotiations faded by Friday.
Spot rebar prices in the Turkish domestic market declined by TRY20/mt to TRY7,230-7,430/mt ex-works on Friday amid currency fluctuations. Icdas decreased its local rebar prices by TRY80/mt to TRY7,360/mt ex-works Biga and TRY7,440/mt ex-works Istanbul. All domestic prices include 18pc VAT.
In the export market, Turkish rebar remained in the range of $730-740/mt fob actual weight.