In the week from August 5 to August 11, the scrap indexes maintained their upward movement on the Orbis Steel Index. In the given week, the Turkish rebar index increased for the eighth consecutive week. Meanwhile, the Turkish flat rolled product indexes switched to sideways movement.
As per the Orbis Steel Index data, the index movements in the week from August 5 to August 11 as per product are as follows:
Turkish Scrap Index maintained its upwards movement. The index value increased by 0.4 percent to 159.43 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index continued to increase in the given week, with the index value rising by 0.59 percent week on week to 160.71.
Turkish Rebar Index moved upwards slightly, with the index value increasing by 0.14 percent to 150.79.
Turkish HRC Index switched to sideways movement in the week in question, with the index value remaining at 102.85.
Black Sea HRC Export Index has not seen any changes compared to the previous week. The index value stayed at 101.18.
Turkish HDG Index moved sideways in the given week, with the index value staying at 108.52.
Turkish CRC Index switched to sideways movement, with the index value remaining at 103.08 in the given week.
*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