In the week from February 27 to March 4, the scrap indexes continued to increase on the Orbis Steel Index. The Turkish rebar index continued to move upward in the given week, marking the fourth consecutive week of increase. While the Black Sea HRC export index and Turkish HDG index maintained sideways movement, no downward movement has been observed on the Orbis Steel Index.
As per the Orbis Steel Index data, the index movements in the week from February 27 to March 4 as per product are as follows:
Turkish Scrap Index continued to increase in the given week. The index value rose by 1.8 percent to 187.97.
US (East Coast) HMS I/II Scrap Export Index increased by 1.83 percent to 196.47 compared to the previous week.
Turkish Rebar Index moved upwards for the fourth consecutive week. The index value increased by 0.61 percent week on week to 165.84.
Turkish HRC Index increased by 0.72 percent to 114.23 compared to the previous week.
Black Sea HRC Export Index maintained sideways movement in the given week, remaining at 118.48.
Turkish HDG Index moved sideways this week, staying at 105.36.
Turkish CRC Index continued to increase in the given week. The index value rose by 1.25 percent week on week to 111.3.
*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