The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.21/mt to $280.12/mt cfr on Wednesday.
Buying activity is high in the Turkish ferrous scrap market with mills purchasing several cargoes. Prices for deep-sea cargoes were relatively stable, while those for short-sea cargoes increased.
A Marmara-based mill booked 9,000mt of HMS 1&2 (80:20) at $279/mt cfr, 15,000mt of shredded scrap at $284/mt cfr, and 6,000mt of P&S 5ft at $289/mt cfr from a Baltic supplier. Some market participants believe that prices in the deal were higher by $0.5/mt.
The same producer reached an agreement with another Baltic exporter at $279/mt cfr for HMS 1&2 (80:20), at $284/mt cfr for shredded scrap and at $289/mt cfr for P&S 5ft.
An Iskenderun-based mill bought 19,000mt of HMS 1&2 (80:20) at $276/mt cfr and 16,000mt of shredded scrap at $286/mt cfr from Belgium for March shipment.
Scrap from the Azov-Black Sea basin is also in demand in Turkey. A3 material from Russia (Rostov-on-Don) was sold at $277/mt cfr Karadeniz, while HMS 1&2 (90:10) was sold at $283/mt cfr Marmara.
Turkish mills purchased around 25 deep-sea cargoes for March shipment and are yet to buy around 10 more cargoes, Davis Index estimates. HMS 1&2 (80:20) from the USA is not available below $280/mt cfr Turkey.