The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $2.61/mt to $279.89/mt cfr on Friday after a sale from Europe was heard.
Demand for ferrous scrap is low in the Turkish market and buyers are targeting lower prices amid weak rebar sales. A European supplier was heard to have accepted lower prices and closed a deal with a Turkish mill at around $275/mt cfr for HMS 1&2 (80:20), though further details of the transaction were not available at the time of publication.
Some negotiations were reported in Turkey, with bids for HMS 1&2 (80:20) from the USA and the Baltic region at $275/mt cfr.
Rebar prices drop
Turkish daily domestic rebar spot prices decreased by TRY30-40/mt ($4-5/mt) to TRY3,750-3,780/mt ex-works, including 18pc VAT, on Friday. Exported rebar prices also declined to $435-440/mt fob versus $440/mt fob earlier. Both local and export rebar sales were sluggish.
Some wire rod trading was reported this week in Turkey at around $485/mt ex-works, fob.
($1 = TRY7.31)