In the week from January 23 to January 29, on the Orbis Steel Index the scrap indexes continued to decline, the Turkish rebar index maintained its declining movement, while the Turkish flat rolled indexes still indicated downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from January 23 to January 29 as per product are as follows:
Turkish Scrap Index maintained its downward movement, with the index value falling by 7.06 percent week on week to 98.4.
US (East Coast) HMS I/II Scrap Export Index decreased by 9.98 percent to 108.24 compared to the previous week.
Turkish Rebar Index maintained its declining movement, with the index value moving down by 3.09 percent to 97.9.
Turkish HRC Index decreased in the given week, with the index value falling by 1.16 percent week on week to 86.15.
Black Sea HRC Export Index remained stable in the given week, with the index value staying at 95.03.
Turkish HDG Index started to decrease. The index value fell by 4.13 percent week on week to 87.7.
Turkish CRC Index remained unchanged at 91.1.
*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.