In the week from August 12 to August 18, on the Orbis Steel Index the Turkish scrap index value moved sideways while the US (East Coast) HMS I/II scrap export index continued to increase. In the given week, the Turkish rebar index registered a decrease after eight weeks of upward movement. Meanwhile, the Turkish flat rolled product indexes indicated either downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from August 12 to August 18 as per product are as follows:
Turkish Scrap Index moved sideways in the given week, with the index value staying at 159.43.
US (East Coast) HMS I/II Scrap Export Index increased by 1.31 percent week on week to 162.82.
Turkish Rebar Index started to decrease, with the index value falling by 0.21 percent to 150.47 compared to the previous week.
Turkish HRC Index maintained sideways movement. The index value remained at 102.85.
Black Sea HRC Export Index moved upwards in the week in question, with the index value rising 0.94 percent week on week to 102.13.
Turkish HDG Index decreased by 2.91 percent to 105.36 compared to the previous week.
Turkish CRC Index continued to move sideways, with the index value staying at 103.08.
*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