The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $4.74/mt to $506.56/mt cfr on Wednesday following fresh bookings from the Baltic region and the UK.
A Marmara-based mill purchased two cargoes of HMS 1&2 (80:20) at $504/mt cfr and shredded scrap at $524/mt cfr from the UK. The same mill also bought HMS 1&2 (80:20) at $498/mt cfr and bonus material at $508/mt cfr from Russia (St Petersburg).
In another transaction, an Izmir-based mill bought 30,000mt of shredded scrap at $521/mt cfr from an exporter from the UK.
Offers from the Baltic region rose to a minimum of $510/mt cfr for HMS 1&2 (80:20), while US suppliers await higher levels amid active negotiations in the Turkish imported ferrous scrap market.
Spot rebar prices in the Turkish domestic market increased by TRY50/mt to TRY7,100-7,150/mt ex-works on Wednesday as trading revived. Icdas raised its local rebar prices by TRY70/mt to TRY7,210/mt ex-works Biga and TRY7,290/mt ex-works Istanbul. All domestic prices include 18pc VAT.