The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained at $275/mt cfr on Monday on a continuing standoff between buyers and sellers.

 

Sellers are sticking to a price of around $280/mt cfr for some cargoes of HMS 1&2 (80:20) that are available from the Baltic region and Europe. However, Turkish buyers—who are targeting around $270/mt cfr for HMS 1&2 (80:20)—find this price level unattractive for Turkish mills as steel product prices are mainly going down. 

 

Deals are expected to be sporadic this week with a few negotiations taking place in the Turkish scrap market. The most recent deal in Turkey was closed last week at $277/mt cfr for 22,000mt of HMS 1&2 (80:20) from UK.

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