In the week from March 26 to April 1, the Turkish scrap index maintained its sideways movement, while the US (East Coast) HMS I/II scrap export index started to increase on the Orbis Steel Index. In the given week, no upward movement has been observed for flat rolled products, with the Turkish HDG index showing no changes for the seventh consecutive week. On the other hand, the Turkish rebar index continued to decline.
As per the Orbis Steel Index data, the index movements in the week from March 26 to April 1 as per product are as follows:
Turkish Scrap Index continued to move sideways this week. The index value remained at 185.27.
US (East Coast) HMS I/II Scrap Export Index increased by 0.25 percent to 191.76 compared to the previous week.
Turkish Rebar Index decreased again in the given week. The index value dropped by 0.78 percent week on week to 163.13.
Turkish HRC Index decreased by 0.71 percent week on week to 113.82.
Black Sea HRC Export Index switched to sideways movement in the given week. The index value stayed at 118.48.
Turkish HDG Index has not shown any changes compared to the previous week. The index value stayed at 105.36.
Turkish CRC Index continued to decrease this week. The index value fell 0.62 percent to 109.59 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