The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $280.12/mt cfr on Thursday as no deep-sea purchases were reported.
Negotiations are underway with some deals expected to be closed in the Turkish ferrous scrap market soon. Mills that still require cargoes for March shipment are looking to purchase material below $280/mt cfr for HMS 1&2 (80:20). Since US suppliers are firm on offers above $280/mt cfr for HMS 1&2 (80:20), mills are checking offers from the Baltic region and Europe for lower prices.
Some Turkish mills have also opted for short-sea scrap cargoes. On February 19, HMS 1&2 (80:20) from Croatia was sold at $270/mt cfr and the same grade of material from Bulgaria was sold at $268.5/mt cfr. On February 18, Romanian HMS 1&2 (80:20) was traded at $273/mt cfr Turkey.
Exporters from Russia (Rostov-on-Don) are asking for a minimum of $280/mt cfr Turkey for A3 scrap.