In the week from January 30 to February 5, the scrap indexes maintained their downward movement on the Orbis Steel Index. The Black Sea HRC index switched to sideways movement in the given week, while the Turkish HDG and CRC indexes also moved sideways. The Turkish rebar index declined this week, marking its fourth week of downward 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 to decrease in the given week. The index value dropped by 1.18 percent to 182.42 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 3.01 percent to 189.41 compared to the previous week.
Turkish Rebar Index decreased for the fourth consecutive week. The index value fell 0.81 percent to 157.06 compared to the previous week.
Turkish HRC Index moved sideways again in the week in question, remaining at 107.32.
Black Sea HRC Export Index switched to sideways movement. The index value remained at 117.54.
Turkish HDG Index has not indicated any changes compared to the previous week, with the index value remaining at 107.89.
Turkish CRC Index moved sideways in the given week, still at 106.16.
*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