The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $2.50/mt to $500/mt cfr on Monday following lower bids and weak demand.
Mills reduced their bids to $490-495/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region despite few offers that remain in the range of $505-510/mt cfr.
Negotiations are also slow in the Azov-Black Sea basin where bids at $460-465/mt cfr for HMS 1&2 (80:20) from Romania or Bulgaria are not attractive for most suppliers.
Spot rebar prices in the Turkish domestic market dropped by TRY50/mt to TRY7,050-7,100/mt ex-works, including 18pc VAT, on Monday, while exported rebar prices remained unchanged at $750/mt fob.
($1=TRY8.62)