In the week from January 23 to January 30, the scrap indexes continued to decrease on the Orbis Steel Index. The Black Sea HRC index moved upwards, while the Turkish rebar index indicated a decline for the third consecutive week. Other flat rolled products moved sideways in the given week.
As per the Orbis Steel Index data, the index movements in the week from January 23 to January 30 as per product are as follows:
Turkish Scrap Index decreased by 3.66 percent to 184.59 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 2.93 percent week on week to 195.29.
Turkish Rebar Index decreased by 1.51 percent to 158.34 compared to the previous week.
Turkish HRC Index maintained sideways movement in the given week. The index value stayed at 107.32.
Black Sea HRC Export Index continued to move upwards. The index value increased by 2.7 percent to 117.54 compared to the previous week.
Turkish HDG Index continued to move sideways this week. The index value stayed at 107.89.
Turkish CRC Index moved sideways for the fifth consecutive week, with the index value remaining at 108.22.
*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