The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $255.50/mt cfr on Wednesday due to lack of trade.

 

Buyers and suppliers are still negotiating in the Turkish ferrous scrap market with no deals reported on Wednesday. Offers stand at $261-262/mt cfr for HMS 1&2 (80:20) from the US and the Baltic region, and at $257/mt cfr and $250-253/mt cfr, from the UK and Europe, respectively, for the same grade. However, bids are being heard at $250-255/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region and slightly below $250/mt cfr for the same grade from Europe.

 

The most recent transactions in Turkey were set at $255/mt cfr for Baltic-origin HMS 1&2 (80:20) and at $253/mt cfr for UK-origin HMS 1&2 (80:20) on July 3.

 

Rebar prices unchanged

Daily domestic rebar spot prices in Turkey continued to vary in the range of TRY3,340-3,410/mt ex-works, including 18pc VAT, on Wednesday, while exported rebar prices were in the range of $410-415/mt fob.

 

Kardemir opened 150x150mm billet sales at TRY3,132.90/mt ex-works, including 18pc VAT for S420-B420 grade with deferred payment on July 7. According to several market participants, the mill sold 61,550-64,550mt.

 

($1 = TRY6.86)

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