The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.61/mt to $446.36/mt cfr on Friday following new deals from the Baltic region and Venezuela.

 

Turkish mills purchased at least five deep-sea cargoes on Sep 2 for September and October shipment. An Iskenderun-based integrated steel mill bought a cargo from Latvia with HMS 1&2 (80:20) at $444.50/mt cfr, and an Izmir-based mill secured a cargo from Russia (St Petersburg) with HMS 1&2 (80:20) at $445/mt cfr. One more Baltic exporter was heard to have sold a cargo with HMS 1&2 (80:20) to Turkey at around $445/mt cfr.

 

A Marmara-based mill also closed a deal with an international trader, for 26,000mt of HMS 1&2 (80:20) at $432/mt cfr along with 4,000mt of bonus material from St Petersburg. An exporter from Venezuela sold 25,000mt of HMS 1&2 (80:20) at $444/mt cfr to an Iskenderun-based mill.

 

Trading is expected to continue next week as Turkish mills require material for October shipment.

 

Spot rebar prices in the Turkish domestic market were unchanged at TRY6,370-6,570/mt ex-works, including 18pc VAT, on Friday.

 

($1=TRY8.31)

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