In the week from January 25 to January 31, on the Orbis Steel Index the scrap indexes continued to indicate downward movement. In the given week, the Turkish rebar index continued to decline, while the Turkish flat rolled product indexes maintained their sideways movement.
As per the Orbis Steel Index data, the index movements in the week from January 25 to January 31 as per product are as follows:
Turkish Scrap Index continued its downward trend. The index value decreased by 1.48 percent week on week to 71.25.
US (East Coast) HMS I/II Scrap Export Index declined by 4.79 percent to 79.53 compared to the previous week.
Turkish Rebar Index decreased in the given week, with the index value falling by 0.72 percent week on week to 75.81.
Turkish HRC Index has moved sideways, with the index value remaining at 57.32.
Black Sea HRC Export Index remained stable at 48.82 in the given week.
Turkish HDG Index maintained its sideways movement, with the index value remaining at 74.45.
Turkish CRC Index has not shown any changes compared to the previous week. The index value stayed at 60.27.
*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.