The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $3.88/mt to $470.88/mt cfr on Thursday after a new sale was reported.

 

A Marmara-based mill purchased HMS 1&2 (80:20) at $471/mt cfr and shredded scrap and bonus material at $486/mt cfr from a US supplier on Jul 28.

 

Turkish mills are bidding $465-470/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region as the supply for August shipment outpaces demand. Cargoes from the USA, Baltic region, and the EU are still available.

 

In the Azov-Black Sea basin suppliers started accepting lower prices and a sale from Romania was heard at $439/mt cfr Turkey for HMS 1&2 (80:20).

 

Spot rebar prices in the Turkish domestic market dropped by TRY80-180/mt to TRY7,050-7,180/mt ex-works on Thursday amid currency fluctuations. Icdas reduced its local rebar prices by TRY80/mt to TRY7,340/mt ex-works Biga and TRY7,420/mt ex-works Istanbul. Domestic rebar prices include 18pc VAT.

 

In the exported rebar market prices decreased by $10/mt to $720-730/mt fob actual weight with no significant sales reported recently. Some Turkish mills have kept offers at no lower than $740/mt fob actual weight since they are sold out until mid-October.

 

Kardemir opened its 150×150 billet sales at $677/mt ex-works for S235JR grade and at $682/mt ex-works for the S420-B420 grade on Thursday. The producer sold 80,000-85,000mt of semis in a few hours and closed sales. These prices exclude 18pc VAT.

 

($1=TRY8.47)

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