In the week from January 11 to January 17, on the Orbis Steel Index the scrap indexes started to move downwards. In the given week, the Turkish rebar index started to decrease, while the Turkish flat rolled product indexes indicated downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from January 11 to January 17 as per product are as follows:
Turkish Scrap Index decreased by 1.94 percent week on week to 73.29.
US (East Coast) HMS I/II Scrap Export Index moved downwards in the given week, with the index value falling 1.39 percent to 83.76 compared to the previous week.
Turkish Rebar Index declined with the index value moving down by 0.1 percent week on week to 77.96.
Turkish HRC Index switched to downward movement, with the index value decreasing by 16.07 percent week on week to 48.11.
Black Sea HRC Export Index increased by 0.24 percent to 50.36 compared to the previous week.
Turkish HDG Index decreased by 1.66 to 74.45 compared to the previous week.
Turkish CRC Index maintained its sideways movement, with the index value remaining at 60.27.
*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.