The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) increased by $1.50/mt to $482.11/mt cfr on Monday after a new booking from the USA was reported.
An Iskenderun-based mill purchased HMS 1&2 (90:10) at $485/mt cfr, and shredded scrap and bonus material at $492/mt cfr from an American supplier on Jan 8. The cargo is due to be shipped by the end of February or the beginning of March.
Turkey’s imported ferrous scrap market was quiet on Monday after mills, which booked around 13-15 deep-sea cargoes last week, now focus on steel product sales, according to market participants. Offers from the USA and Baltic exporters remained firm at $485-490/mt cfr for HMS 1&2 (80:20).
The daily domestic spot rebar prices in Turkey increased by TRY20-70/mt ($3-9/mt) to TRY5,670-5,720/mt ex-works, including 18pc VAT, on Monday. Icdas raised its local rebar price by TRY80/mt ($11/mt) to TRY5,670/mt ex-works, including 18pc VAT.
Kardemir sold 20,000-25,000mt of rebar at TRY5,652.20/mt ex-works, including 18pc VAT on Monday, and decided to close its sales at this price, which was announced on Dec 25, 2020.
The daily exported rebar prices moved to $645-650/mt fob on Monday from $640-650/mt fob on Friday.
New transactions were reported in the Turkish domestic billet market. Thus, in Iskenderun semis were sold at $618/mt ex-works at the end of last week, while previous deals were done at around $609/mt ex-works at the end of December. New offers for billets are now heard at $625/mt ex-works.
($1 = TRY7.49)