The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $272.50/mt cfr on Thursday.

 

Business activity remains slow in the Turkish ferrous scrap market with only a few mills looking for short-sea cargoes. Bids for HMS 1&2 (80:20) moved below $260/mt cfr after a sale was reported at this price from Romania to Turkey on Jan 28. Bids for A3 scrap from Rostov-on-Don, Russia were reported at $260-262/mt cfr Turkey.

 

Firm bids for deep-sea scrap cargoes are missing, while buyers’ price ideas moved below $270/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region, even to $260/mt cfr in some cases. Negotiations are scarce because most mills continue to expect lower prices amid difficulties with steel product sales.

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