In the week from September 2 to September 8, the scrap index values moved sideways on the Orbis Steel Index. In the given week, the Turkish rebar index started to decrease, while the Turkish flat rolled product indexes indicated either downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from September 2 to September 8, as per product are as follows:
Turkish Scrap Index maintained its sideways movement. The index value remained at 160.53.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement, with the index value staying at 162.59.
Turkish Rebar Index moved downwards in the given week, with the index value falling 1.15 percent to 150.62 compared to the previous week.
Turkish HRC Index decreased by 1.21 percent to 100 compared to the previous week.
Black Sea HRC Export Index has not shown any changes compared to the previous week, with the index value remaining at 101.66.
Turkish HDG Index moved downwards, with the index value declining 4.19 percent week on week to 100.95.
Turkish CRC Index maintained its sideways movement, with the index value remaining at 102.4.
*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