In the week from August 13 to August 19, on the Orbis Steel Index the scrap indexes switched to sideways movement. In the given week, the Black Sea HRC export index maintained its upward movement. The Turkish rebar index started to decrease, while Turkish flat rolled products maintained their sideways movement.
As per the Orbis Steel Index data, the index movements in the week from August 13 to August 19 as per product are as follows:
Turkish Scrap Index has not shown any changes compared to the previous week. The index value stayed at 171.16.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement. The index value remained at 179.76.
Turkish Rebar Index decreased by 0.77 percent to 153.31 compared to the previous week.
Turkish HRC Index maintained its sideways movement in the given week, with the index value remaining at 105.69.
Black Sea HRC Export Index continued to increase in the week in question. The index value rose by 0.68 percent week on week to 105.45.
Turkish HDG Index continued to move sideways. The index value stayed at 96.53.
Turkish CRC Index maintained its sideways movement this week. The index value remained at 102.74.
*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.