The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched up by $0.12/mt to $255.49/mt cfr on Monday.
Turkey’s imported ferrous scrap market was calm at the beginning of the week as market participants discussed only a sale from the UK, which was done on July 3 and reported during the weekend. The sale had a minor impact on the current market. Under this deal, a Karadeniz-based mill purchased 14,500mt of HMS 1&2 (80:20) at $253/mt cfr and 1,000mt of shredded scrap at $258/mt cfr. The cargo is due to be shipped at the end of July.
Some negotiations are anticipated in the Turkish market later in the week for August shipment cargoes.
Rebar prices unchanged
Daily domestic rebar spot prices in Turkey continued in the range of TRY3,340-3,410/mt ex-works, including 18pc VAT, on Monday amid quiet trading. Icdas decreased local rebar prices by TRY20/mt ($3/mt) to TRY3,400/mt ex-works, including 18pc VAT.
Exported rebar prices were flat at $410-415/mt fob.
($1 = TRY6.87)