In the week from January 26 to February 1, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index declined for the fourth consecutive week, while the Turkish flat rolled indexes mostly indicated sideways movement.
As per the Orbis Steel Index data, the index movements in the week from January 26 to February 1 as per product are as follows:
Turkish Scrap Index decreased by 9.63 percent week on week to 113.31.
US (East Coast) HMS I/II Scrap Export Index decreased by 6.59 percent to 120 compared to the previous week.
Turkish Rebar Index maintained its downward movement with the index value falling 1.39 percent week on week to 111.29.
Turkish HRC Index moved sideways, with the index value remaining at 88.21.
Black Sea HRC Export Index continued to decline. The index value decreased by 2.43 percent week on week to 76.3.
Turkish HDG Index switched to sideways movement, with the index value remaining at 90.22.
Turkish CRC Index continued to move sideways, with the index value remaining at 88.36.
*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.