The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $8.29/mt to $491/mt cfr on Friday as suppliers targeted higher prices.
US and Baltic exporters raised offers to $500-510/mt cfr for HMS 1&2 (80:20) after a sale from Sweden was heard at $488/mt cfr for this grade. Still, bids from Turkish mills remained at around $480/mt cfr, widening the bid-offer gap significantly and resulting in no reported deals today.
Meanwhile, new bookings for HMS 1&2 (80:20) from Romania were fixed at $457-460/mt cfr in Turkey, up by $17-20/mt from yesterday.
Spot rebar prices in the Turkish domestic market increased by TRY50-70/mt to TRY6,850-6,900/mt ex-works on Friday. Bastug Metalurji raised its local rebar prices by TRY120/mt to TRY7,000/mt ex-works, while Icdas kept them unchanged at TRY6,880/mt ex-works Biga and TRY6,960/mt ex-works Istanbul. All domestic prices include 18pc VAT.
Turkish mills increased export rebar offers to $715-730/mt fob actual weight on Friday, while the most recent sale was done at around $705/mt fob to the Far East.