In the week from March 11 to March 17, the scrap indexes moved downwards on the Orbis Steel Index. In the given week, the Turkish rebar index started to decline after four straight weeks of upward movement. The Black Sea HRC export index moved downwards, while the Turkish HRC and CRC indexes did not show any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from March 11 to March 17 as per product are as follows:
Turkish Scrap Index moved downwards in the week in question, with the index value falling 0.84 percent to 167.73 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.53 percent to 177.65 compared to the previous week.
Turkish Rebar Index started to decrease in the given week. The index value decreased by 0.13 percent week on week to 148.64.
Turkish HRC Index switched to sideways movement, with the index value staying at 101.22.
Black Sea HRC Export Index decreased by 1.26 percent week on week to 110.9.
Turkish HDG Index decreased by 2.34 percent week on week to 105.39.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 103.42.
*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