In the week from February 16 to February 22, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index continued to decline, marking a seventh consecutive week of downward movement. The Turkish flat rolled indexes mostly moved on a sideways trend.
As per the Orbis Steel Index data, the index movements in the week from February 16 to February 22 as per product are as follows:
Turkish Scrap Index continued to decrease, with the index value falling 0.64 percent week on week to 98.56.
US (East Coast) HMS I/II Scrap Export Index decreased by 2.34 percent to 98.35 compared to the previous week.
Turkish Rebar Index maintained its downwards movement. The index value decreased by 0.37 percent week on week to 101.29.
Turkish HRC Index decreased by 0.96 percent to 84.55 compared to the previous week.
Black Sea HRC Export Index moved downwards in the given week, with the index value falling 0.93 percent week on week to 75.83.
Turkish HDG Index switched to sideways movement. The index value remained at 85.8.
Turkish CRC Index has not shown any changes compared to the previous week. The index value stayed at 84.93.
*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.