The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) trended flat at $484.89/mt cfr on Tuesday amid the ongoing Kurban Bayrami holidays in the country.

 

Business activity is slow and most mills are not expected to resume purchases in the imported ferrous scrap market until next week, though they are yet to finish bookings for August shipments.

 

The Turkish market went quiet after a Marmara-based mill purchased HMS 1&2 (80:20) from the USA at $485/mt cfr and an Izmir-based mill bought HMS 1&2 (95:5) from Canada at $489/mt cfr early last week.

 

Spot rebar prices in the Turkish domestic market were unchanged at TRY7,230-7,430/mt ex-works, including 18pc VAT, on Tuesday.

 

In the export market, prices for Turkish rebar continued to vary in the range of $730-740/mt fob actual weight.

 

($1=TRY8.56)

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