In the week from January 16 to January 22, on the Orbis Steel Index the scrap indexes moved downwards, the Turkish rebar index declined, while the Turkish flat rolled indexes indicated downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from January 16 to January 22 as per product are as follows:
Turkish Scrap Index continued to decline. The index value decreased by 1.16 percent week on week to 108.12.
US (East Coast) HMS I/II Scrap Export Index declined by 6.05 percent to 124.24 compared to the previous week.
Turkish Rebar Index maintained its downward movement in the given week, with the index value declining by 3.23 percent week on week to 101.02.
Turkish HRC Index switched to downward movement, with the index value decreasing by 0.71 percent week on week to 87.16.
Black Sea HRC Export Index started to decrease. The index value fell by 1.96 percent week on week to 95.03.
Turkish HDG Index remained unchanged at 91.48.
Turkish CRC Index remained stable in the given week, with the index value staying at 91.1.
*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.