The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) rose by $5.86/mt to $409.86/mt cfr on Thursday after a new booking from the USA was reported.
An Iskenderun-based mill purchased 22,000mt of HMS 1&2 (80:20) at $410/mt cfr, 4,000mt of shredded scrap at $415/mt cfr, and 4,000mt of bonus material at $420/mt cfr from a US-based supplier on Feb 10. The cargo is due to be shipped in the second half of March.
Active negotiations in the imported ferrous scrap market are underway as some mills are looking for cargoes to fulfill their requirements for March shipments, while others consider booking for April. Scrap exporters from the USA and the Baltic region have raised their offers to $420/mt cfr for HMS 1&2 (80:20) and a European recycler was heard offering a mixed composition cargo at an average price of $415/mt cfr.
The daily domestic spot rebar price in Turkey increased by TRY40-100/mt ($6-14/mt) to TRY4,980-5,030/mt ex-works, including 18pc VAT, on Thursday amid active sales, while the daily exported rebar prices moved to $600/mt fob on better demand versus $595-600/mt fob a day ago.