In the week from August 31 to September 6, on the Orbis Steel Index the scrap indexes continued to move down. In the same week, the Turkish rebar index also continued its downward movement, while the flat rolled product indexes indicated sideways or downward movement.
As per the Orbis Steel Index data, the index movements in the week from August 31 to September 6 as per product are as follows:
Turkish Scrap Index continued to move down, with the index value declining by 3.08 percent week on week to 89.33.
US (East Coast) HMS I/II Scrap Export Index decreased by 5.85 percent to 87.27 compared to the previous week.
Turkish Rebar Index maintained its downward movement. The index value decreased by 1.53 percent week on week to 89.27.
Turkish HRC Index moved sideways in the given week, with the index value staying at 66.26 percent.
Black Sea HRC Export Index moved downwards. The index value declined by three percent week on week to 61.37.
Turkish HDG Index decreased by 3.22 percent week on week to 75.71.
Turkish CRC Index has not shown any change week on week, with the index value remaining at 68.84.
*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.