In the week from March 4 to March 10, the scrap indexes moved upwards on the Orbis Steel Index. In the given week, the Turkish rebar index continued to move up, marking the fourth consecutive week of increase on week-on-week basis. The Black Sea HRC export index maintained its sideways movement, while the Turkish flat rolled product indexes showed mixed movement in the week in question.
As per the Orbis Steel Index data, the index movements in the week from March 4 to March 10 as per product are as follows:
Turkish Scrap Index increased by 1.91 percent to 169.15 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards in the given week, with the index value rising by 2.71 percent week on week to 178.59.
Turkish Rebar Index increased by 0.88 percent week on week to 148.83.
Turkish HRC Index moved continued to decrease, with the index value falling by 2.74 percent to 101.22 compared to the previous week.
Black Sea HRC Export Index maintained its sideways movement. The index value stayed at 112.32.
Turkish HDG Index has not shown any changes compared to the previous week. The index value remained at 107.89.
Turkish CRC Index moved upwards in the given week, with the index value increasing by 1.34 percent week on week to 103.42.
*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