The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $449.85/mt cfr on Monday in a quiet market.
Business activity is subdued due to weak steel product sales. Besides, Turkish mills require less than 10 deep-sea cargoes for September shipment, because of which, bids are expected to fall to $440-445/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region amid sluggish demand.
The most recent transaction in Turkey was fixed at $450/mt cfr for 20,000mt of HMS 1&2 (80:20) and $470/mt cfr for 7,000mt of shredded scrap and 3,000mt of bonus material from the USA, as Davis Index reported on Friday.
Spot rebar prices in the Turkish domestic market remained unchanged at TRY6,700-6,800/mt ex-works, including 18pc VAT, on Monday.