In the week from September 3 to September 9, on the Orbis Steel Index the scrap indexes maintained their downward movement. In the week in question, the Turkish rebar index decreased for the fourth consecutive week. While the Turkish HRC and CRC indexes switched to sideways movement, no upward movements have been observed on the Orbis Steel Index in the given week.
As per the Orbis Steel Index data, the index movements in the week from September 3 to September 9 as per product are as follows:
Turkish Scrap Index decreased by 0.86 percent to 164.51 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained its downward movement. The index value declined by 2.56 percent week on week to 169.88.
Turkish Rebar Index continued to decrease in the given week. The index value dropped by 1.45 percent to 149.73 compared to the previous week.
Turkish HRC Index switched to sideways movement again. The index value stayed at 106.5.
Black Sea HRC Export Index moved downwards in the week in question. The index value decreased by 0.45 percent to 104.27 compared to the previous week.
Turkish HDG Index continued to move sideways. The index value remained at 96.53.
Turkish CRC Index moved sideways in the week in question, with the index value staying at 103.42.
*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