In the week from July 18 to July 24, on the Orbis Steel Index the scrap indexes continued to increase. In the same week, the Turkish rebar index moved on an upward trend, while the Turkish flat rolled indexes showed downward and sideways movement.
As per the Orbis Steel Index data, the index movements in the week from July 18 to July 24 as per product are as follows:
Turkish Scrap Index moved upwards with the index value rising by 2.7 percent week on week to 90.89.
US (East Coast) HMS I/II Scrap Export Index continued to increase, with the index value rising by 4.63 percent week on week to 100.94.
Turkish Rebar Index increased by 1.35 percent week on week to 93.08.
Turkish HRC Index continued its downward trend with the index value decreasing by 3.29 percent week on week to 65.5.
Black Sea HRC Export Index switched to upward movement in the given week. The index increased by 2.57 percent week on week to 71.34.
Turkish HDG Index has not shown any change week on week, with the index value remaining at 71.92.
Turkish CRC Index remained stable compared to the previous week. The index value remained 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.