The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was flat at $285/mt cfr on Thursday on suspended trade.
Business activity remains slow in Turkey’s ferrous scrap market as suppliers of the material await bids from mills, who are being cautious amid significant Turkish lira devaluations against US dollar. Moreover, mills are currently watching steel product sales. As a result, this week could finish quietly.
Some scrap cargoes from the USA and the Baltic region are still available to Turkey at $286/mt cfr and higher for HMS 1&2 (80:20).
Local rebar prices decline
Daily domestic rebar spot prices declined by TRY10/mt across Turkey to TRY3,800-3,850/mt ex-works, including 18pc VAT on Thursday. Trading is muted due to currency fluctuations.
Exported rebar prices in Turkey were flat at $440/mt fob.
($1 = TRY7.32)