In the week from March 19 to March 25, the scrap indexes switched to sideways movement on the Orbis Steel Index. Most flat rolled products have moved downward in the given week. The Black Sea HRC export index started to decline, while the Turkish HDG index moved sideways for the sixth consecutive week.
As per the Orbis Steel Index data, the index movements in the week from March 19 to March 25 as per product are as follows:
Turkish Scrap Index switched to sideways movement in the given week. The index value remained at 185.27.
US (East Coast) HMS I/II Scrap Export Index has not shown any changes compared to the previous week. The index value stayed at 191.29.
Turkish Rebar Index decreased by 0.12 percent week on week to 164.41.
Turkish HRC Index decreased this week. The index value dropped by 0.71 percent to 114.63 compared to the previous week.
Black Sea HRC Export Index showed a slight decrease in the given week. The index value declined by 0.4 percent to 118.48.
Turkish HDG Index remained flat this week, marking its sixth consecutive week of sideways movement. The index value stayed at 105.36.
Turkish CRC Index decreased by 1.23 percent to 110.27 compared to the previous 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