The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $206.93/mt cfr on Tuesday amid a quiet market.

 

Negotiations in Turkey’s ferrous scrap market have been limited, as weak demand is balanced with low supply.

 

Turkish scrap buyers have been inactive because of difficulties selling steel products. Offers for scrap are scarce because most exporters, who were under pressure to sell, had earlier accepted lower prices, but most suppliers now can’t collect the material and prefer a wait-and-see approach.

 

The most recent transactions in Turkey were fixed at around $207/mt cfr for HMS 1&2 (80:20) from the Baltic region in the second half of last week, as Davis Index reported.

 

Local rebar spot prices were flat in the range of TRY2,860-2,950/mt ex-works, including 18pc VAT, on Tuesday. In the meantime, Icdas raised local rebar prices by TRY40/mt ($6/mt) to TRY3,040/mt ex-works, including 18pc VAT, in Biga.

 

Export rebar and billet prices in Turkey remained at $390-395/mt fob and at $345-350/mt fob, respectively.

 

($1 = TRY6.58)

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