In the week from August 27 to September 2, on the Orbis Steel Index the scrap indexes continued to decrease. While the Turkish rebar index maintained its downward movement, the Turkish HRC and CRC indexes registered increases in the week in question, following weeks of sideways movement.
As per the Orbis Steel Index data, the index movements in the week from August 27 to September 2 as per product are as follows:
Turkish Scrap Index continued to decrease in the given week. The index value dropped by 0.85 percent to 165.93 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.54 percent to 174.35 compared to the previous week.
Turkish Rebar Index maintained its downward movement in the given week, with the index value decreasing by 0.39 percent week on week to 151.94.
Turkish HRC Index started to move upwards in the week in question. The index value increased by 0.77 percent to 106.5.
Black Sea HRC Export Index decreased by 0.67 percent to 104.74 compared to the previous week.
Turkish HDG Index maintained its sideways movement, with the index value staying at 96.53.
Turkish CRC Index started to increase after 10 weeks of sideways movement. The index value rose 0.66 percent week on week to 103.42.
*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