In the week from March 6 to March 12, on the Orbis Steel Index the scrap indexes maintained their upward movement, the Turkish rebar index started to increase, while the Turkish flat rolled indexes continued their upward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from March 6 to March 12 as per product are as follows:
Turkish Scrap Index continued to increase, with the index value rising 3.77 percent to 116.11 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained its upward movement, with the index value increasing by 4.18 percent week on week to 134.82.
Turkish Rebar Index moved upwards in the given week, with the index value increasing by 4.13 percent week on week to 107.85.
Turkish HRC Index switched to sideways movement, remaining at 85.35.
Black Sea HRC Export Index was stable in the given week, with the index value remaining at 94.38.
Turkish HDG Index moved upwards. The index value increased by 8.57 percent to 95.9 compared to the previous week.
Turkish CRC Index did not show any change week on week, with the index value remaining at 92.47.
*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.