The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $266.91/mt cfr on Monday as the market took a pause after hectic trading for July cargoes.
Turkish mills have already bought significant tonnages of scrap for July shipment because of which, neither firm bids nor firm offers were reported in the Turkish ferrous scrap market on Monday.
A sale from the UK at $264-265/mt cfr for HMS 1&2 (80:20) was heard on Monday, but further details were not disclosed, with most market participants of the opinion that it was finalized last week.
In the domestic market, Turkish producers raised purchase prices for shipbreaking scrap by $3/mt to $258/mt delivered since Friday.
Local rebar prices adjusted
Daily domestic rebar spot prices increased by TRY20-40/mt ($3-4/mt) in Istanbul, Karabuk, and Izmir, but remained unchanged in Iskenderun. As a result, the general price range settled at TRY3,470-3,480/mt ex-works, including 18pc VAT, on Monday.
Icdas raised local rebar prices by TRY30/mt ($4/mt) to TRY3,470/mt ex-works, including 18pc VAT, while Izmir Demir Celik increased them by TRY20/mt ($3/mt) to TRY3,470/mt ex-works, including 18pc VAT.
Exported rebar and billet prices in the Turkish market were unchanged at $415-420/mt fob and at $395-405/mt fob, respectively.
($1 = TRY6.86)