The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $1.76/mt to $446/mt cfr on Wednesday after mills reduced their bids for the material.
Turkish mills resumed negotiations with scrap suppliers bidding $445/mt cfr and lower for HMS 1&2 (80:20) from the USA and the Baltic region after an Izmir-based mill purchased this grade at $447/mt cfr from a Baltic exporter late last week.
Offers are limited for now as recyclers prefer to evaluate the availability of cargoes for October shipment amid slow collection.
Suppliers from Russia (Rostov-on-Don) and Ukraine continue to refrain from selling to Turkey due to the unacceptable prices and high export duties. Some short-sea exporters decided to switch to alternative outlets and a sale from Romania to Greece was finalized at $442/mt cfr for HMS 1&2 (80:20) on Wednesday.
Spot rebar prices in the Turkish domestic market decreased by TRY50/mt to TRY6,400-6,600/mt ex-works, including 18pc VAT, on Wednesday on slow trading activity.