In the week from March 10 to March 16, on the Orbis Steel Index the scrap indexes moved upwards. In the given week, the Turkish rebar index started to increase, while the Turkish flat rolled product indexes mostly moved downwards.
As per the Orbis Steel Index data, the index movements in the week from March 10 to March 16 as per product are as follows:
Turkish Scrap Index increased by 1.18 percent week on week to 158.33 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising by 4.74 percent to 156 compared to the previous week.
Turkish Rebar Index increased by 1.83 percent to 151.1 compared to the previous week.
Turkish HRC Index moved sideways in the given week, with the index value remaining at 96.75.
Black Sea HRC Export Index moved downwards, with the index value falling 1.63 percent week on week to 100.47.
Turkish HDG Index decreased by 1.58 percent to 98.11 compared to the previous week.
Turkish CRC Index switched to downward movement in the given week, with the index value declining by 1.43 percent week on week to 94.52.
*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.