In the week from January 16 to January 22, the scrap indexes started to decrease on the Orbis Steel Index. Among all the flat rolled products, only the Black Sea HRC index moved upwards. The Turkish HRC and CRC indexes stayed flat for the third and fourth consecutive week respectively.
As per the Orbis Steel Index data, the index movements in the week from January 16 to January 22 as per product are as follows:
Turkish Scrap Index started to decrease this week. The index value dropped by 0.98 percent week on week to 191.6.
US (East Coast) HMS I/II Scrap Export Index decreased by 2.06 percent to 201.18 compared to the previous week.
Turkish Rebar Index continued to decrease in the given week. The index value fell 2.72 percent week on week to 160.77.
Turkish HRC Index moved sideways for the third consecutive week, remaining at 107.32.
Black Sea HRC Export Index increased by 2.77 percent to 114.45 compared to the previous week.
Turkish HDG Index switched to sideways in the given week. The index value stayed at 107.89.
Turkish CRC Index maintained its sideways movement, with the index value remaining at 108.22.
*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.