The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $2.07/mt to $259.88/mt cfr on Friday on a new sale from Europe.

 

After negotiations, an Iskenderun-based mill purchased 15,000mt of HMS 1&2 (75:25), 10,000mt of shredded scrap and 7,500mt of bonus material at an average price of $261.5/mt cfr from Belgium. The cargo is scheduled for the prompt shipment.

 

Demand for ferrous scrap improved in Turkey by the end of the week with the market seeing bids from several mills at $250-255/mt cfr for HMS 1&2 (80:20) from the US or the Baltic region, though no bookings were confirmed.

 

As buying activity at alternative outlets also increased, some market participants hope that the downtrend in scrap is over and prices may rebound soon. 

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