In the week from March 5 to March 11, the scrap indexes started to decrease on the Orbis Steel Index. The Black Sea HRC export index started to move upwards in the given week, while the Turkish HDG index still moved sideways. The Turkish rebar index showed a slight increase, indicating its fifth consecutive week of upward movement.
As per the Orbis Steel Index data, the index movements in the week from March 5 to March 11 as per product are as follows:
Turkish Scrap Index decreased this week. The index value dropped by 0.76 percent week on week to 186.54.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.56 percent to 193.41 compared to the previous week.
Turkish Rebar Index increased in the given week. The index value rose by 0.5 percent to 166.67 compared to the previous week.
Turkish HRC Index maintained upward movement. The index value increased by 1.07 percent to 115.45 compared to the previous week.
Black Sea HRC Export Index moved upwards in the given week, increasing by 0.41 percent week on week to 118.96.
Turkish HDG Index has not shown any changes compared to the previous week, remaining at 105.36.
Turkish CRC Index increased by 0.31 percent to 111.64 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