In the week from February 6 to February 12, the scrap indexes moved downward on the Orbis Steel Index for the fourth consecutive week. The Turkish rebar index started to increase in the given week. The Turkish HRC index remained flat, marking its sixth consecutive week of sideways movement. Meanwhile, the Black Sea HRC export index and Turkish HDG index started to move downwards.
As per the Orbis Steel Index data, the index movements in the week from February 6 to February 12 as per product are as follows:
Turkish Scrap Index decreased by 1.82 percent, marking the fourth consecutive week of downward movement. The index value fell to 179.1.
US (East Coast) HMS I/II Scrap Export Index continued to decrease in the given week. The index value dropped by 1.86 percent week on week to 185.88.
Turkish Rebar Index moved upwards this week, increasing by 0.46 percent to 157.78 compared to the previous week.
Turkish HRC Index maintained sideways movement in the week in question, with the index value remaining at 107.32.
Black Sea HRC Export Index decreased by 0.2 percent to 117.3 compared to the previous week.
Turkish HDG Index started to decrease in the given week. The index value fell 2.34 percent week on week to 105.36.
Turkish CRC Index has not shown any changes compared to the previous week. The index value stayed at 106.16.
*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