The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.24/mt to $463.72/mt cfr on Friday following new deals from the Baltic region and Venezuela.
An exporter from Venezuela sold a cargo of HMS 1&2 (80:20) at $460/mt cfr Izmir on Aug 6. The cargo was confirmed to be without any shredded scrap or bonus material.
A supplier from Denmark sold 17,000mt of HMS 1&2 (80:20), 9,000mt of shredded scrap and 2,000mt of bonus material at an average price of $471.50/mt cfr Karadeniz. The cargo is due to be shipped in the first half of September. The composition of this cargo was finalized only today though the parties had agreed on price on Aug 3.
More deep-sea transactions are expected following active negotiations in the second half of this week.
In the Azov-Black Sea basin a Karadeniz-based integrated steel mill purchased HMS 1&2 (80:20) at $425/mt cfr and bonus material at $440/mt cfr from Romania. Still, most exporters from Russia (Rostov-on-Don) and Ukraine withdrew offers after Turkish bids dropped below $430/mt cfr.
Spot rebar prices in the Turkish domestic market increased by TRY70-100/mt to TRY6,950-7,130/mt ex-works on Friday amid currency fluctuations. Icdas raised its local rebar prices by TRY180/mt to TRY7,200/mt ex-works Biga and TRY7,280/mt ex-works Istanbul. All these prices include 18pc VAT.