The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.50/mt to $288/mt cfr on Tuesday as demand improved.
Negotiations revived in the Turkish imported ferrous scrap market with mills trying to achieve the lowest prices possible before resuming purchases. Bids were heard in the range of $283-286/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region as buyers became more active since some mills still require scrap cargoes for October shipment and can’t delay those bookings anymore.
Offers are scarce, especially for October shipment, and were reported at no lower than $290/mt cfr for US and Baltic-origin HMS 1&2 (80:20). However, some deals are anticipated in the market over the next few days.
The daily domestic spot rebar prices in Turkey decreased by TRY30/mt ($4/mt) to TRY4,070-4,120/mt ex-works, including 18pc VAT, on Tuesday amid slow trading, while the daily exported rebar prices remained unchanged at $450-455/mt fob.
($1 = TRY7.80)