In the week from September 26 to October 2, scrap index values in the Orbis Steel Index switched back to sideways movement again. While the Turkish rebar index continued to decrease, all the flat rolled products followed a downward trend, except for the Turkish HDG index which moved sideways this week.
As per the Orbis Steel Index data, the index movements in the week from September 26 to October 2 as per product are as follows:
Turkish Scrap Index moved sideways this week. Index value remained at 193.08.
US (East Coast) HMS I/II Scrap Export Index has not shown any changes compared to the previous week. Index value stayed at 206.35.
Turkish Rebar Index continued to decrease with the index value dropping 1.53 percent week on week to 175.79.
Turkish HRC Index decreased for the third consecutive week. The index value dropped 1.32 percent to 121.14.
Black Sea HRC Export Index decreased by 2.9 percent to 127.01 compared to the previous week.
Turkish HDG Index switched to sideways movement this week. Index value remained at 117.35.
Turkish CRC Index decreased by 2.23 percent compared to the previous week. The index value dropped to 119.86.
*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.