The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $285/mt cfr on Friday as the week finished quietly.

 

Turkish mills paused ferrous scrap bookings after active purchases between late July and early August. Moreover, demand for scrap declined as rebar sales slowed down amid significant Turkish lira devaluation against the US dollar. Now, mills are trying to collect some more orders for rebar before announcing firm bids for scrap.

 

The most recent transactions in Turkey were fixed at $285/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region a week ago. Some cargoes are available at $286/mt cfr and higher for HMS 1&2 (80:20). None of suppliers were heard to have reduced offers.

 

Daily domestic rebar spot prices in Turkey were unchanged at TRY3,800-3,850/mt ex-works, including 18pc VAT, on Friday, while exported rebar prices – at $440/mt fob.

 

($1 = TRY7.38)

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