The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) were flat at $513.19/mt cfr on Tuesday despite a booking from the USA.

 

After a long break in trading between the two countries, a US supplier sold HMS 1&2 (95:5) at $515/mt cfr Turkey. The 44,000mt-cargo is due to be shipped in July from the New Orleans.

 

Buying activity is slow in Turkish imported ferrous scrap market with almost no bids reported, while the availability of US cargoes to Turkey increased on softening demand at alternative outlets.

 

Several short-sea scrap exporters are trying to sell to Turkey at same levels as last week, but buyers are not interested in making deals at those levels.

 

Spot rebar prices in the Turkish domestic market dropped by TRY70-80/mt to TRY7,200-7,250/mt ex-works, including 18pc VAT, on Tuesday amid weak sales.

 

($1 = TRY8.47)

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