In the week from January 19 to January 25, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index continued to decline for the third consecutive week, while the Turkish flat rolled indexes mostly indicated sideways movement.
As per the Orbis Steel Index data, the index movements in the week from January 19 to January 25 as per product are as follows:
Turkish Scrap Index decreased by 0.69 percent week on week to 125.38.
US (East Coast) HMS I/II Scrap Export Index decreased by 2.15 percent to 128.47 compared to the previous week.
Turkish Rebar Index maintained its downward movement with the index value falling 1.29 percent week on week to 112.86.
Turkish HRC Index moved downwards with the index value falling 0.46 percent week on week to 88.21.
Black Sea HRC Export Index continued to decline. The index value decreased by 0.6 percent week on week to 78.2.
Turkish HDG Index switched to downward movement. The index value decreased by 1.38 percent to 90.22 compared to the previous week.
Turkish CRC Index moved sideways, with the index value remaining at 88.36.
*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.