The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $419.17/mt cfr on Tuesday in the absence of trades.
Turkish mills continue to hope for lower imported ferrous scrap prices. Mills believe that prices for HMS 1&2 (80:20) from the USA and the Baltic region should decrease to $410-415/mt cfr to spur any demand. Sellers, however, have indicated these levels are not workable and have stepped back and withdrawn offers. Some scrap exporters believe that Turkish still require cargoes for April shipment, and prefer to wait for firm bids to trickle into the market.
In the domestic market, Turkish steelmakers lowered daily purchase prices for shipbreaking scrap by $20/mt to $380/mt delivered on Tuesday amid sluggish demand.
Daily domestic spot rebar prices in Turkey declined by TRY50/mt ($6/mt) to TRY5,550-5,620/mt ex-works on Tuesday amid currency fluctuations.