In the week from February 2 to February 8, on the Orbis Steel Index the scrap indexes continued to decrease. In the given week, the Turkish rebar index declined for the fifth consecutive week, while the Turkish flat rolled indexes indicated downward movement.
As per the Orbis Steel Index data, the index movements in the week from February 2 to February 8 as per product are as follows:
Turkish Scrap Index maintained its downward movement, with index value falling 9.62 percent week on week to 103.1.
US (East Coast) HMS I/II Scrap Export Index decreased by 7.76 percent to 100.71 compared to the previous week.
Turkish Rebar Index declined for the fifth consecutive week. The index value fell 6.2 percent week on week to 104.39.
Turkish HRC Index moved downwards, with the index value decreasing by 1.84 percent week on week to 86.59.
Black Sea HRC Export Index switched to sideways movement. The index value remained at 76.3.
Turkish HDG Index declined by 0.7 percent week on week to 89.59.
Turkish CRC Index moved downwards in the given week. The index value decreased by 0.78 percent to 87.67.
*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.