In the week from September 5 to September 11, scrap indexes in the Orbis Steel Index have moved upwards following several weeks of sideways and downward movement. However, in the flat rolled products, the only increase has been observed in Black Sea HRC export index after two weeks of sideways movement.
As per the Orbis Steel Index data, the index movements in the week from September 5 to September 11 as per product are as follows:
Turkish Scrap Index has increased by 0.91 percent to 192.6 after five weeks of sideways and downward movements.
US (East Coast) HMS I/II Scrap Export Index started to move upwards after six weeks. Index value increased by 0.58 percent to 205.18.
Turkish Rebar Index has increased by 0.43 percent to 178.44 compared to the previous week.
Turkish HRC Index stayed neutral for the fifth consecutive. The index value remains at 125.2.
Black Sea HRC Export Index started to increase after two weeks of sideways movement. The index value climbed by 0.18 percent to 133.89.
Turkish HDG Index decreased by 0.26 percent this week, with the index value dropping to 118.3.
Turkish CRC Index fell by 0.55 percent after three weeks of sideways movement with the index value dropping to 123.97.
*Explanations:
Turkish Scrap Index: Based on the weighted average of prices published by SteelOrbis of domestic ferrous scrap purchased weekly by Turkish steel mills, and imported HMS 80/20 CFR Turkey.
Turkish Rebar Index: Based on the weighted average of prices published by SteelOrbis of commercial quality deformed steel reinforcing bars produced and sold by Turkish mills and subsequently merchants, both in the domestic market on ex-warehouse basis and for export on FOB Turkey basis.
Turkish HRC Index: Based on the weighted average of prices published by SteelOrbis of commercial quality HRC produced or imported, and then sold by Turkish mills on ex-warehouse basis.
01.01.2005 value is 100.