The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.02/mt to $273.4/mt cfr on Thursday with a new sale from the Baltic region.

 

An Izmir-based mill purchased HMS 1&2 (80:20) at $273.50/mt cfr and bonus material at $283.50/mt cfr from the Baltic region, adding to the ferrous scrap bookings for March shipment that are underway in the Turkish market. The same mill secured HMS 1&2 (80:20) at $274/mt cfr and bonus scrap at $284/mt cfr from another Baltic exporter, but this deal was confirmed after the Davis Index settled for the day.

 

Some transactions were also closed in the Azov-Black Sea basin recently with A3 from Russia (Rostov-on-Don) sold at $269/mt cfr Karadeniz. HMS 1&2 (80:20) from Romania traded at $263.50/mt cfr Turkey while HMS 1&2 (80:20) from Bulgaria was traded at $260/mt cfr.

 

Several negotiations are in progress in Turkey and most scrap suppliers from the US and the Baltic region are targeting a minimum $275/mt cfr for HMS 1&2 (80:20).

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