In the week from January 5 to January 11, on the Orbis Steel Index the Turkish scrap index started to move downwards, while the US (East Coast) HMS I/II scrap export index increased. In the given week, the Turkish rebar index switched to downward movement, while the Turkish flat rolled indexes indicated either sideways or downward movement.
As per the Orbis Steel Index data, the index movements in the week from January 5 to January 11 as per product are as follows:
Turkish Scrap Index moved downwards, with the index value falling 2.19 percent to 126.49 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index increased by 0.35 percent week on week to 134.59.
Turkish Rebar Index decreased by 4.34 percent week on week to 115.51.
Turkish HRC Index maintained its sideways movement, with the index value remaining at 92.68.
Black Sea HRC Export Index continued to move sideways. The index value stayed at 80.57.
Turkish HDG Index decreased by 2.03 percent to 91.48 compared to the previous week.
Turkish CRC Index has not shown any changes compared to the previous week, with the index value remaining at 87.67.
*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.