The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.08/mt to $275.88/mt cfr on Monday.
A fresh sale from the Baltic region supported the price increase with a Marmara-based mill buying HMS 1&2 (80:20) at $276/mt cfr and bonus scrap at $286/mt cfr from a Latvian supplier. The 25,000mt-cargo is due to be shipped in March.
Several negotiations are in progress with Turkish mills that still require ferrous scrap cargoes for March shipment with bids ranging at around $275/mt cfr for HMS 1&2 (80:20), while exporters from the US and the Baltic region offer their material at around $280-285/mt cfr.
Turkish producers booked 11-14 deep-sea scrap cargoes (300,000-400,000mt) last week, Davis Index estimates.