Scrap increases on Orbis Steel Index

Monday, 27 February 2012 11:48:11 (GMT+2)

In the week from February 20 to February 26, the scrap indexes increased on the Orbis Steel Index. Turkish HRC maintained its upward movement in the given week, while the Black Sea HRC export index switched to sideways movement. On the other hand, the Turkish rebar index increased for the third consecutive week.

As per the Orbis Steel Index data, the index movements in the week from February 20 to February 26 as per product are as follows:
 
Turkish Scrap Index increased by 1.66 percent week on week to 184.64.
 
US (East Coast) HMS I/II Scrap Export Index started to increase in the given week. The index value rose by 3.8 percent week on week to 192.94.
 
Turkish Rebar Index increased by 2.47 percent to 164.84 compared to the previous week.

Turkish HRC Index continued to increase this week. The index value rose by 1.08 percent week on week to 113.41.
 
Black Sea HRC Export Index moved sideways in the given week, remaining at 118.48.
 
Turkish HDG Index has not shown any change compared to the previous week. The index value remained at 105.36.
 
Turkish CRC Index increased by 1.9 percent to 109.93 compared to the previous week.

*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