Scrap moves downwards on Orbis Steel Index

Monday, 27 August 2012 12:23:29 (GMT+3)   |  
       

In the week from August 20 to August 26, on the Orbis Steel Index the scrap indexes started to decrease. The Black Sea HRC export index switched to sideways movement in the given week. The Turkish rebar index decreased for the second consecutive week, while Turkish flat rolled products still moved sideways. In the week in question, no upward movement was observed on the Orbis Steel Index.

As per the Orbis Steel Index data, the index movements in the week from August 20 to August 26 as per product are as follows:

Turkish Scrap Index moved downwards in the given week. The index value decreased by 2.22 percent to 167.36 compared to the previous week.

US (East Coast) HMS I/II Scrap Export Index declined by 2.49 percent week on week to 175.29.

Turkish Rebar Index continued to decrease. The index value fell 0.5 percent to 152.54 compared to the previous week.

Turkish HRC Index has not shown any changes compared to the previous week. The index value stayed at 105.69.

Black Sea HRC Export Index started to move sideways in the given week. The index value remained at 105.45.

Turkish HDG Index remained flat for the 10th consecutive week, with the index value registered at 96.53.

Turkish CRC Index maintained its sideways movement, with the index value staying at 102.74.

*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


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