In the week from March 21 to March 27, on the Orbis Steel Index the scrap indexes continued to rise. In the given week, the Turkish rebar index started to move upward and the Turkish HDG index showed a sharp decline.
As per the Orbis Steel Index data, the index movements in the week from March 21 to March 27 as per product are as follows:
Turkish Scrap Index maintained its upward movement. The index value increased by 0.04 percent week on week to 88.94.
US (East Coast) HMS I/II Scrap Export Index continued to move upwards with an increase of 2.09 percent to 103.29 compared to the previous week.
Turkish Rebar Index increased by 1.79 percent to 93.45 on week-on-week basis.
Turkish HRC Index maintained its rising, with an increase of 5.89 percent to 67.1 compared to the week before.
Black Sea HRC Export Index rose by 1.61 percent week on week to 59.82.
Turkish HDG Index started to decline, with the index value decreasing by 8.09 percent week on week to 78.86.
Turkish CRC Index maintained its stable trend. The index value remained at 74.66.
*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.