The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) climbed by $0.87/mt to $255.50/mt cfr on Wednesday as offers rose.
Buying activity was high in Turkey’s ferrous scrap market as steel product sales revived. Bids were reported at $254-255/mt cfr for US or Baltic-origin HMS 1&2 (80:20). However, suppliers raised offers with a single Baltic exporter asks $257/mt cfr for the material, while others targeted a minimum of $260/mt cfr.
In the domestic market, Turkish mills increased purchase prices for shipbreaking scrap by $5/mt to $245/mt delivered.
Steel product sales improve
Rebar trading continued in the domestic market and spot prices rose by TRY20-30/mt ($3-4/mt) across Turkey and settled in the range of TRY3,280-3,360/mt ex-works, including 18pc VAT, on Wednesday.
Export rebar prices in the Turkey remained flat at $405-415/mt fob. A sale of 50,000mt to Hong Kong was heard at $433/mt cfr.
According to market participants, there were some flat product sales on export. A Turkish mill was heard to sell 50,000mt of HRC at $430/mt cfr to China this week, while another one sold 30,000mt of HRC at $420/mt cfr to Vietnam late last week.
($1 = TRY6.74)