The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $283.75/mt cfr on Tuesday due to a lack of deals.
Turkish mills continue to collect orders for steel products and are refraining from deep-sea ferrous scrap purchases. As a result, no bids were reported on Tuesday. Suppliers are also holding back from offering their material as they await interest from buyers. Some exporters believe that Turkish mills still need cargoes for September shipment.
The most recent deep-sea bookings in Turkey were done at $285/mt cfr for the US and Baltic-origin HMS 1&2 (80:20) in the first week of August.
Rebar sales muted
Daily domestic rebar spot prices in Turkey declined by TRY10/mt ($1/mt) from the upper end of the previous range to TRY3,800-3,840/mt ex-works, including 18pc VAT, on Tuesday. Exported rebar prices in Turkey remained flat at $440/mt fob.
($1 = TRY7.37)