In the week from September 17 to September 23, on the Orbis Steel Index the scrap indexes continued to move downwards. In the given week, the Turkish rebar index declined for the sixth consecutive week, While the Turkish CRC index started to decrease after two weeks of sideways movement.
As per the Orbis Steel Index data, the index movements in the week from September 17 to September 23 as per product are as follows:
Turkish Scrap Index decreased by 2.41 percent week on week to 153.74.
US (East Coast) HMS I/II Scrap Export Index moved downwards this week. The index value decreased by 1.32 percent to 158.82 compared to the previous week.
Turkish Rebar Index continued to decrease. The index value fell 1.89 percent to 143.87 compared to the previous week.
Turkish HRC Index declined in the week in question. The index value decreased by 1.52 percent week on week to 104.88.
Black Sea HRC Export Index switched to sideways movement in the given week, with the index value staying at 100.95.
Turkish HDG Index maintained its sideways movement. The index value remained at 96.53.
Turkish CRC Index moved downwards this week. The index value dropped by 1.32 percent to 102.05 compared to the previous week.
*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