The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.45/mt to $295.45/mt cfr on Wednesday after mills resumed bookings.
Four fresh deals were reported in the Turkish imported ferrous scrap market with suppliers achieving higher prices. An Iskenderun-based producer purchased 17,000mt of HMS 1&2 (80:20) at $296.50/mt cfr, 10,000mt of shredded scrap at $301.50/mt cfr and 3,000mt of P&S 5ft at $306.50/mt cfr from a large US supplier on Nov 3. Another Iskenderun-based mill bought 26,000mt of HMS 1&2 (80:20) at $293.50/mt cfr, 2,000mt of bonus scrap at $303.50/mt cfr and 2,000mt of busheling at $308.50/mt cfr from Poland.
On Nov 3, a Marmara-based mill also purchased HMS 1&2 (80:20) at $289/mt cfr, shredded scrap at $294/mt cfr, and bonus material at $299/mt cfr from a European supplier.
An Izmir-based steelmaker was heard to have reached an agreement with an exporter from St Petersburg, Russia at $293/mt cfr for HMS 1&2 (80:20), but further details of the transaction were not available at the time of publication.
Negotiations have revived in the Turkish scrap market. Buyers are trying to continue booking at around $295/mt cfr for HMS 1&2 (80:20) from the US and Baltic region, while suppliers insist on higher prices due to limited cargo availability for December shipments.
Turkey’s daily domestic rebar spot prices climbed by TRY10/mt ($1/mt) from the lower end of the previous range to TRY4,530-4,630/mt ex-works, including 18pc VAT, on Wednesday, while the exported rebar prices moved to $455-460/mt fob versus $450-460/mt fob earlier.
($1 = TRY8.42)