In the week from July 31 to August 6, on the Orbis Steel Index the scrap indexes moved up further, the Turkish rebar index continued to increase, while the Turkish flat rolled indexes indicated either upward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from July 31 to August 6 as per product are as follows:
Turkish Scrap Index maintained its upward movement. The index value increased by 2.37 percent week on week to 129.8.
US (East Coast) HMS I/II Scrap Export Index increased by 2.7 percent week on week to 147.53.
Turkish Rebar Index moved upwards, with the index value rising by 1.98 percent week on week to 120.58.
Turkish HRC Index continued its rising movement, with the index value increasing by 2.99 percent week on week to 86.36.
Black Sea HRC Export Index switched to sideways movement in the week in question, with the index value remaining at 95.03.
Turkish HDG Index remained stable at 96.53.
Turkish CRC Index maintained its sideways movement, with the index value remaining at 91.78.
*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.