The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) inched down by $0.12/mt to $463.48/mt cfr on Wednesday following more bookings.
An Izmir-based mill purchased 15,000mt of HMS 1&2 (80:20) at $464/mt cfr, 14,000mt of shredded scrap and 2,000mt of P&S 5ft at $479/mt cfr from the USA for September shipment.
A Karadeniz-based mill closed a deal with an EU supplier at an average price of $463/mt cfr for 22,000mt of HMS 1&2 (80:20) and 3,000mt of HMS 1, bonus material. The cargo is due to be shipped by mid-September.
Mills’ buying activity increased but at reduced bids of $460/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region. A Marmara-based mill, which recently booked more than others, dropped its bids below $460/mt cfr.
Spot rebar prices in the Turkish domestic market fell by TRY100-130/mt to TRY6,800-6,950/mt ex-works, including 18pc VAT, on Wednesday and spurred some sales. In the exported rebar market, prices decreased by $10/mt to $710-720/mt fob actual weight after a sale was heard to Asia within the range.
($1=TRY8.48)