The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) fell by $10.37/mt to $259.63/mt cfr on Tuesday on reports of new bookings from the Baltic region and the US.

 

The most recent transaction in the Turkish ferrous scrap market was confirmed on Feb 4 after a supplier from the Baltic region (St. Petersburg, Russia) traded 25,000mt of HMS 1&2 (80:20) at $251/mt cfr and 5,000mt of bonus material at $261/mt cfr to an integrated steel mill from Iskenderun. The cargo is due to be shipped in March.

 

Two unconfirmed US deals at $261-262/mt cfr for HMS 1&2 (80:20), were also heard by Turkish market participants.

 

The scrap market remains bearish in Turkey with mills looking for further price decrease due to abundant scrap supply and sluggish steel product sales.

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