In the week from March 2 to March 8, on the Orbis Steel Index the Turkish scrap index moved downwards, while the US (East Coast) HMS I/II scrap export index continued to increase. In the given week, the Turkish rebar index maintained its upward trend. The Turkish flat rolled indexes moved sideways.
As per the Orbis Steel Index data, the index movements in the week from March 2 to March 8 as per product are as follows:
Turkish Scrap Index moved downwards, with the index value falling 0.14 percent week on week to 100.62.
US (East Coast) HMS I/II Scrap Export Index continued to increase. The index value went up by 4.6 percent to 107.06 compared to the previous week.
Turkish Rebar Index maintained its upward movement. The index value increased by 2.26 percent week on week to 104.82.
Turkish HRC Index switched to sideways movement, with the index value staying at 83.33.
Black Sea HRC Export Index has not shown any changes compared to the previous week, with the index value remaining at 75.83.
Turkish HDG Index moved sideways in the given week. The index value remained at 85.17.
Turkish CRC Index continued to move sideways, with the index value staying at 84.93.
*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.