In the week from August 6 to August 12, on the Orbis Steel Index the scrap indexes moved upwards for the third consecutive week. In the given week, the Black Sea HRC export index started to rise. The Turkish rebar index increased for the second consecutive week, while Turkish flat rolled products maintained their sideways movement.
As per the Orbis Steel Index data, the index movements in the week from August 6 to August 12 as per product are as follows:
Turkish Scrap Index continued to increase in the given week. The index value rose by 1.61 percent to 171.16 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index increased by 0.53 percent week on week to 179.76.
Turkish Rebar Index increased by 1.47 percent to 154.5 compared to the previous week.
Turkish HRC Index continued to move sideways with the index value remaining at 105.69.
Black Sea HRC Export Index moved upwards in the given week. The index value increased by 0.92 percent to 104.74.
Turkish HDG Index maintained sideways movement in the week in question. The index value stayed at 96.53.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 102.74.
*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