In the week from March 12 to March 18, the scrap indexes continued to decrease on the Orbis Steel Index. No downward movement has been observed in flat rolled products, while the Turkish HRC, HDG and CRC indexes registered sideways movement. On the other hand, the Turkish rebar index started to decrease after five weeks of upward movement.
As per the Orbis Steel Index data, the index movements in the week from March 12 to March 18 as per product are as follows:
Turkish Scrap Index continued to decrease in the given week. The index value fell 0.68 percent week on week to 185.27.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.1 percent week on week to 191.29.
Turkish Rebar Index started to decrease in the given week. The index value decreased by 1.24 percent to 164.6 compared to the previous week.
Turkish HRC Index switched to sideways movement. The index value remained at 115.45.
Black Sea HRC Export Index increased by 0.8 percent to 119.91 compared to the previous week.
Turkish HDG Index maintained sideways movement this week, remaining at 105.36.
Turkish CRC Index has not shown any changes compared to the previous week. The index value stayed at 111.64.
*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