The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $295/mt cfr on Tuesday as buyers postponed bookings.

 

Turkey’s ferrous scrap market was quiet with neither bids nor offers reported. Some Turkish mills require cargoes for October shipment but are delaying negotiations in anticipation of lower prices. Moreover, Turkish mills are also trying to evaluate the prospects of rebar sales to the USA and Asia.

 

For now, Turkish mills are content with buying scrap in the domestic market including shipbreaking scrap, which is currently being purchased at $285/mt delivered in the Izmir region.

 

Lira devaluation raises local rebar prices

Turkey’s daily domestic spot rebar prices increased by TRY30/mt ($4/mt) to TRY4,080-4,110/mt ex-works, including 18pc VAT, on Tuesday amid currency fluctuations. Icdas announced a rebar price rise by TRY40/mt ($5/mt) to TRY4,170/mt ex-works, including 18pc VAT.

 

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

 

($1 = TRY7.66)

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