In the week from August 18 to August 24, on the Orbis Steel Index the scrap indexes maintained its upward movement. In the given week, the Turkish rebar index continued to increase, while the Turkish flat rolled product indexes have not shown any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from August 18 to August 24 as per product are as follows:
Turkish Scrap Index continued to increase, with the index value rising 0.66 percent week on week to 153.55.
US (East Coast) HMS I/II Scrap Export Index increased by 1.43 percent to 166.35 compared to the previous week.
Turkish Rebar Index maintained its upward movement, with the index value increasing by 1.19 percent week on week to 133.94.
Turkish HRC Index continued to move sideways in the given week. The index value remained at 100.
Black Sea HRC Export Index switched to sideways movement, with the index value staying at 102.13.
Turkish HDG Index started to move sideways in the week in question. The index value remained at 100.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 94.52.
*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.