In the week from August 15 to August 21,
US (East Coast) HMS I/II
scrap export index started to decrease after three weeks of sideways movement. The only upward movement observed in flat rolled markets was in Black Sea
HRC export index, remarking the third consecutive week of increase, while Turkish HDG index started to decrease this week.
As per the Orbis Steel Index data, the index movements in the week in question as per product are as follows:
Turkish Scrap Index has moved sideways for the third consecutive week. The index value remains at 193.79.
US (East Coast) HMS I/II Scrap Export Index has dropped by 0.35 percent compared to the previous week. The index value decreased to 204.
Turkish Rebar Index has started to increase this week. The index value increased by 0.37 percent to 176.31.
Turkish HRC Index continued to stay neutral in the given week. The index value remains at 125.2.
Black Sea HRC Export Index has increased for three consecutive weeks. The index value reached 133.65, increasing by 0.18 percent week on week.
Turkish HDG Index decreased this week, with the index value dropping by 0.27 percent to 118.61.
Turkish CRC Index switched to sideways movement, with the index value remaining at 124.66.
*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.