The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.69/mt to $265.91/mt cfr on Thursday.
There are some ferrous scrap bookings to report in Turkey. A sale, yesterday from the US was heard at $266/mt cfr for HMS 1&2 (80:20) to a large mill.
According to market participants, Turkish mills purchased three to five more deep-sea scrap cargoes recently with no more details disclosed. Some producers have already finished their bookings for July shipment.
Local steel product market firm in Turkey
Daily domestic rebar spot prices slid by TRY10-20/mt ($1-3/mt) in Istanbul, Karabuk and Iskenderun, but remained flat in Izmir. As a result, the general price range settled at TRY3,400-3,460/mt ex-works, including 18pc VAT, on Thursday.
Rebar export prices in Turkey remained unchanged at $415-420/mt fob.
Some billet sales were reported in the domestic market, with Kardemir selling around 50,000mt of semis from TRY3,162.40/mt ex-works, including 18pc VAT, for S420-B420 grade, 150x150mm.
Billet export prices in Turkey rose by $5/mt to $395-400/mt fob.
($1 = TRY6.83)