The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $463.48/mt cfr on Thursday as negotiations revived, with new bookings expected to follow.
Several Turkish mills are bidding $462-464/mt cfr for HMS 1&2 (80:20) from the USA and $460-462/mt cfr for the same grade from the Baltic region. Several suppliers interested in selling cargoes for late August-early September shipment, may accept those levels leading to deals in the near term.
In the meantime, negotiations are also progressing in the Azov-Black Sea basin as demand for short-sea cargoes has recovered.
Spot rebar prices in the Turkish domestic market increased by TRY80/mt to TRY6,880-7,030/mt ex-works, including 18pc VAT, on Thursday as trading activity improved. Some sales were also heard in the Turkish domestic billet market at $660-670/mt ex-works.