The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $444.77/mt cfr on Wednesday as negotiations progressed.

 

Turkish mills are expected to continue ferrous scrap purchases for October shipment. Some suppliers from the USA and the Baltic region are offering HMS 1&2 (80:20) at $447-448/mt cfr, though bids in Turkey have fallen below $445/mt cfr after the most recent bookings.

 

Demand for imported ferrous scrap is moderate as Turkish mills purchased at least 10 deep-sea cargoes over the past few days.

 

Spot rebar prices in the Turkish domestic market jumped by TRY100-105/mt to TRY6,550-6,680/mt ex-works, including 18pc VAT, on Wednesday amid currency fluctuations. Icdas raised its local rebar prices by TRY80/mt to TRY6,740/mt ex-works Biga and TRY6,820/mt ex-works Istanbul (prices include 18pc VAT).

 

Kardemir opened its 150×150 billet sales at $623/mt ex-works for S235JR grade and at $628/mt ex-works for the B420 grade on Wednesday. The producer had sold 37,500mt of semis at the time of publication.

 

($1=TRY8.46)

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