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Turkish scrap moves upwards on Orbis Steel Index

Monday, 20 February 2012 14:43:21 (GMT+2)   -  

Tags: scrap , rebar , hrc , crc , galvanized , raw mat , longs , flats , Turkey , USA , Middle East , North America , steelmaking , Non-EU Countries , Mediterranean | similar articles » SteelOrbis News

In the week from February 13 to February 19, the Turkish scrap index started to increase on the Orbis Steel Index, while the US (East Coast) HMS I/II scrap export index switched to sideways movement. The Turkish HRC and CRC indexes started to increase after weeks of downward or sideways movement. The Turkish HRC index started to move upwards in the given week, after seven weeks of sideways movement.

As per the Orbis Steel Index data, the index movements in the week from February 13 to February 19 as per product are as follows:
 
Turkish Scrap Index started to increase this week. The index value rose by 1.06 percent week on week to 181.63.
 
US (East Coast) HMS I/II Scrap Export Index moved sideways in the given week. The index value stayed at 185.88.
 
Turkish Rebar Index increased by 1.96 percent to 160.87 compared to the previous week.

Turkish HRC Index moved upwards this week. The index value increased by 4.55 percent week on week to 112.2.
 
Black Sea HRC Export Index increased by 1.01 percent week on week to 118.48.
 
Turkish HDG Index switched to sideways movement this week. The index value remained at 105.36.
 
Turkish CRC Index started to increase after seven weeks. The index value climbed by 2.58 percent to 108.9.

*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

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