The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by $1.25/mt to $283.75/mt cfr on Monday amid slow trading.

 

Deep-sea ferrous scrap bookings are still missing in Turkey, while some short-sea purchases were reported early in the week. A supplier from Russia (Rostov-on-Don) sold A3 material at $281/mt cfr Karadeniz. The previous deal from this destination was done at $284/mt cfr in the first week of August. A cargo of HMS 1&2 (80:20) from the Adriatic Sea basin also changed hands at $271/mt cfr Izmir last week.

 

Scrap buyers remain inactive in Turkey, with no firm bids for deep-sea cargoes reported. According to market participants, there are around 5 cargoes available.

 

Rebar trading remains slow

Daily domestic rebar spot prices in Turkey were unchanged at TRY3,800-3,850/mt ex-works, including 18pc VAT, on Monday. Icdas decided to raise its local rebar prices by TRY20/mt ($3/mt) to TRY3,920/mt ex-works, including VAT.

 

Exported rebar prices in Turkey were flat at $440/mt fob.

 

($1 = TRY7.39)

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