The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) declined by $1.04/mt to $469.84/mt cfr on Friday following fresh sales from the Baltic region and Europe.
An Iskenderun-based mill, which recently resumed crude steel production, booked its first deep sea cargo, including HMS 1&2 (80:20) at $469/mt cfr and bonus material at $484/mt cfr from the Baltic region (Klaipeda, Kaliningrad) on Jul 29.
A Marmara-based mill purchased 25,000mt of HMS 1&2 (80:20) at $465/mt cfr, 15,000mt of shredded scrap, and 5,000mt of HMS 1 and P&S 5ft at $485/mt cfr from a Belgian supplier for August shipment.
Some sales were also heard from the Netherlands to Turkey at $460/mt cfr for HMS 1&2 (80:20).
A deal between a recycler from Russia (St Petersburg) and a Marmara-based mill at $471/mt cfr for HMS 1&2 (80:20) and at $486/mt cfr for bonus material was discussed in the market today, but the transaction took place earlier in the week.
Buying activity improved in the Turkish scrap market, with scrap suppliers hoping that the market is close to the bottom. Some mills also began asking for September shipment cargoes.
Spot rebar prices in the Turkish domestic market decreased by TRY30-50/mt to TRY7,000-7,150/mt ex-works on Friday amid currency fluctuations. Icdas reduced its local rebar prices by TRY50/mt to TRY7,290/mt ex-works Biga and TRY7,370/mt ex-works Istanbul. All these prices include 18pc VAT.
($1=TRY8.42)