In the week from February 23 to March 1, on the Orbis Steel Index the scrap indexes started to increase. In the given week, the Turkish rebar index moved upwards, following a seven week of declining trend. The Turkish flat rolled indexes mostly moved downwards.
As per the Orbis Steel Index data, the index movements in the week from February 23 to March 1 as per product are as follows:
Turkish Scrap Index increased by 2.23 percent week on week 100.76.
US (East Coast) HMS I/II Scrap Export Index moved upwards with the index value rising 4.07 percent to 102.35 compared to the previous week.
Turkish Rebar Index started to increase in the given week. The index value went up by 1.19 percent week on week to 102.5.
Turkish HRC Index continued to move downwards, with the index value falling 1.44 percent to 83.33 compared to the previous week.
Black Sea HRC Export Index switched to sideways movement. The index value remained at 75.83.
Turkish HDG Index decreased by 0.73 percent week on week 85.17.
Turkish CRC Index maintained its sideways movement. The index value stayed at 84.93.
*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.