In the week from September 7 to September 13, on the Orbis Steel Index the scrap indexes moved downwards. In the same week, the Turkish rebar index continued to decline, while the flat rolled product indexes indicated mostly sideways movement.
As per the Orbis Steel Index data, the index movements in the week from September 7 to September 13 as per product are as follows:
Turkish Scrap Index decreased by 4.32 percent to 85.47 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained its downward movement, with the index value falling 5.41 percent week on week to 82.35.
Turkish Rebar Index continued to decline in the given week. The index value decreased by 3.72 percent week on week to 85.95.
Turkish HRC Index switched to downwards movement, with the index value declining by 2.46 percent week on week to 64.63 percent.
Black Sea HRC Export Index moved sideways, with the index value remaining at 61.37.
Turkish HDG Index has not shown any change week on week. The index value stayed at 75.71.
Turkish CRC Index remained unchanged at 68.84.
*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.