The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was flat at $500.83/mt cfr on Thursday, despite a sale from Russia.
An Izmir-based mill was heard to have purchased HMS 1&2 (80:20) at $495/mt cfr from Russia (St Petersburg). The cargo is due to be shipped in July before the new export duty at €70/mt will be effective.
Several Turkish mills are in the market and bidding $495/mt cfr for HMS 1&2 (80:20) from the USA and the Baltic region. Russian suppliers may consider sales at this level given the latest deal, though exporters from other countries target above $500/mt cfr due to a firm domestic market and slow collection.
Spot rebar prices in the Turkish domestic market climbed by TRY10/mt to TRY7,150-7,380/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.