In the week from July 25 to July 31, on the Orbis Steel Index the Turkish scrap index declined, while the US (East Coast) HMS I/II scrap export index moved upwards. In the given week, the Turkish rebar moved downwards, whereas the Turkish flat rolled indexes continued their downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from July 25 to July 31 as per product are as follows:
Turkish Scrap Index moved downwards with the index value falling 0.71 percent week on week to 90.57.
US (East Coast) HMS I/II Scrap Export Index increased by 0.7 percent to 101.65 compared to the previous week.
Turkish Rebar Index moved downwards by 1.28 percent to 91.89 compared to the previous week.
Turkish HRC Index continued to decline. The index value went down by 0.55 percent to 65.14 compared to the previous week.
Black Sea HRC Export Index decreased by 1.33 percent week on week to 70.39.
Turkish HDG Index continued to move sideways, with the index value staying at 71.92.
Turkish CRC Index maintained its stable movement. The index value stayed at 76.03.
*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.