The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) dropped by $9.07/mt to $484.89/mt cfr on Tuesday following fresh bookings from the North America.
Turkish steelmakers achieve lower prices for imported scrap amid its high availability, especially from the USA. Thus, a Marmara-based mill purchased 23,000mt of HMS 1&2 (80:20) at $485/mt cfr, 20,000mt of shredded scrap at $500/mt cfr and 3,000mt of bonus material at $500/mt cfr from a US supplier. The same mill also bought a second cargo from another US exporter at $485/mt cfr for HMS 1&2 (80:20) and at $500/mt cfr for shredded scrap.
An Izmir-based mill closed a deal with a Canadian recycler at $489/mt cfr for 20,000mt of HMS 1&2 (95:5) and at $499/mt cfr for 20,000mt of shredded scrap.
Steelmakers in Turkey dropped their bids in negotiations with scrap suppliers from the Azov-Black Sea basin. Buyers are looking for HMS 1&2 (80:20) from Romania and Bulgaria at $445-450/mt cfr and for A3 material and HMS 1&2 (90:10) from Ukraine and Russia (Rostov-on-Don) at $470-475/mt cfr.
Spot rebar prices in the Turkish domestic market continue to vary in the range of TRY7,250-7,450/mt ex-works, including 18pc VAT, on Tuesday. In the export market prices for Turkish rebar remain flat at $730-740/mt fob actual weight.
($1=TRY8.60)