The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was unchanged at $498.75/mt cfr on Thursday.
A gap remains between bids and offers with mills looking at $495-496/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region, while suppliers are targeting $500-505/mt cfr. Still, some deals are expected to follow ongoing negotiations since Turkish mills need cargoes for August shipment. Offers from Europe are limited amid higher prices in the domestic market and slow collection.
Some Turkish mills are looking for short-sea cargoes from the Azov-Black Sea basin and plan to continue bookings at $455-460/mt cfr for HMS 1&2 (80:20) from Romania and Bulgaria.
Spot rebar prices in the Turkish domestic market were flat at TRY7,250-7,450/mt ex-works, including 18pc VAT, on Thursday. In the export market prices for Turkish rebar remained unchanged at $730-740/mt fob actual weight.
($1=TRY8.70)