The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.43/mt to $453.43/mt cfr on Thursday amid fresh bookings from the USA, the Baltic region and Europe for March and April shipment.
Active negotiations resulted in at least five new transactions in the Turkish market on Feb 24. An Iskenderun-based mill purchased 11,000mt of HMS 1&2 (80:20) at $454/mt cfr, 16,000mt of shredded scrap at $464/mt cfr, and 3,000mt of P&S 5ft at $464/mt cfr from a large US supplier. Another producer from the same region bought HMS 1&2 (80:20) at $451/mt cfr, shredded scrap at $461/mt cfr, and P&S 5ft at $461/mt cfr from a different US exporter.
An Iskenderun-based integrated steel mill also reached an agreement with a Belgian recycler at an average price of $453/mt cfr for 15,000mt of HMS 1&2 (75:25), 10,000mt of shredded scrap, 10,000mt of P&S 5ft and 5,000mt of busheling.
A supplier from Poland sold HMS 1&2 (80:20) at $449/mt cfr in a mixed composition cargo to Turkey, but further details of the transaction were not available at the time of publication. A deal between a Russian exporter and a Turkish mill at around $452/mt cfr for HMS 1&2 (80:20) and $462/mt cfr for bonus material was also heard.
Some US and Baltic recyclers have kept their offers for HMS 1&2 (80:20) firm at $460/mt cfr and higher, but bids are varying in the range of $450-455/mt cfr. Turkish mills are resisting prices at above $455/mt cfr since the number of offers in the market have increased.
In the Azov-Black Sea basin a deal for Bulgarian-origin HMS 1&2 (80:20) was fixed at $426/mt cfr Turkey on Feb 24.
The daily exported rebar prices in Turkey were flat at $635-640/mt fob on Thursday as new sales within the range were heard to Latin America and the Middle East.
The daily domestic spot rebar prices in Turkey jumped by TRY70-90/mt ($9-12/mt) to TRY5,420-5,470/mt ex-works, including 18pc VAT, on Wednesday amid active sales and currency fluctuations.
Icdas raised its local rebar prices by TRY90/mt and opened sales in Biga at TRY5,440/mt ex-works, including 18pc VAT, and in Istanbul at TRY5,520/mt ex-works, including 18pc VAT. Bastug Metalurji increased its rebar price by TRY70/mt to TRY5,450/mt ex-works, including 18pc VAT.