In the week from January 30 to February 5, on the Orbis Steel Index the scrap indexes continued to move downwards, the Turkish rebar index continued to decline, 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 30 to February 5 as per product are as follows:
Turkish Scrap Index continued its downward trend. The index value decreased by 5.21 percent week on week to 92.89.
US (East Coast) HMS I/II Scrap Export Index declined by 2.18 percent to 105.88 compared to the previous week.
Turkish Rebar Index decreased by 4.84 percent to 93.16 compared to the previous week.
Turkish HRC Index maintained its declining movement, with the index value moving down by 1.02 percent week on week to 85.27.
Black Sea HRC Export Index switched to downward movement, with the index value declining by 1.99 percent week on week to 93.14.
Turkish HDG Index remained stable in the given week, with the index value staying at 87.7.
Turkish CRC Index did not show any change week on week. The index value stayed 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.