Turkish scrap declines on Orbis Steel Index

Monday, 10 October 2016 17:24:39 (GMT+3)   |   Istanbul
       

In the week from October 3 to October 9, on the Orbis Steel Index the Turkish scrap index continued to decrease, while the US (East Coast) HMS I/II scrap export index started to increase. In the given week, the Turkish rebar index showed upward movement and the Turkish flat rolled indexes moved upwards and sideways. 
 
As per the Orbis Steel Index data, the index movements in the week from October 3 to October 9 as per product are as follows:
 
Turkish Scrap Index declined by 0.08 percent to 85.57 compared to the previous week.
   
US (East Coast) HMS I/II Scrap Export Index increased by 3.04 percent week on week to 95.53.  
                                                                  
Turkish Rebar Index started to increase, with the index value rising by 1.36 percent to 88.14 compared to the previous week. 
 
Turkish HRC Index moved upwards, rising 1.87 percent week on week to 69.65. 
 
Black Sea HRC Export Index switched to upward movement, with the index value increasing by 6.19 percent week on week to 78.27. 
 
Turkish HDG Index moved upwards with the index value rising by 3.17 percent week on week to 82.02.
 
Turkish CRC Index followed a stable trend, with the index value staying at 77.4.  
 
*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

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