In the week from July 15 to July 21, the Turkish scrap index moved upwards on the Orbis Steel Index while the US (East Coast) HMS I/II scrap export index maintained its sideways movement. In the given week, the Turkish rebar index continued to increase. The Turkish HDG index saw an increase, while the other Turkish flat rolled product indexes remained stable compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from July 15 to July 21 as per product are as follows:
Turkish Scrap Index increased by 1.52 to 155.62 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index has not shown any changes compared to the previous week, with the index value staying at 154.82.
Turkish Rebar Index increased by 0.45 percent week on week to 148.73.
Turkish HRC Index continued to move sideways. The index value remained at 95.12.
Black Sea HRC Export Index maintained its upward movement, with the index value rising one percent week on week to 96.21.
Turkish HDG Index moved upwards in the given week, with the index value increasing by 1.27 percent to 100.95 compared to the previous week.
Turkish CRC Index switched to sideways movement, with the index value remaining at 100.68.
*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