The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.68/mt to $462.93/mt cfr on Monday after two new bookings were reported and US suppliers resumed sales to Turkey.
A Marmara-based mill was heard to have purchased HMS 1&2 (80:20) at $464/mt cfr from the USA on Dec 21, though further details of the deal were not available at the time of publication. It should be noted that American exporters were out of the Turkish market for more than a month amid a firm domestic market and better prices at alternative outlets. US sellers are returning now since prices in Turkey have reached an attractive level for them.
Another Marmara-based mill bought HMS 1&2 (80:20) at $455/mt cfr, shredded scrap at $470/mt cfr, bonus material at $465/mt cfr, and busheling at $475/mt cfr from a German supplier.
One more transaction was received after the editorial deadline because of which it was not included in the index. In this confirmed deal, a Karadeniz-based mill booked 12,000mt of HMS 1&2 (80:20), 6,000mt of P&S 5ft, and 5,000mt of busheling and oxy plate at an average price of $476/mt cfr from Denmark.
Turkish ferrous scrap importers are still actively looking for cargoes, considering purchases even for March 2021 shipment as they have already received orders for steel products until that month.
The daily domestic spot rebar prices in Turkey rose by TRY50-100/mt ($6.50-13/mt) to TRY5,630-5,680/mt ex-works, including 18pc VAT, on Monday. Icdas raised its local rebar price by TRY80/mt ($10/mt) to TRY5,650/mt ex-works, including 18pc VAT.
The daily exported rebar prices in Turkey increased by $10/mt to $635-640/mt fob.
($1 = TRY7.64)