In the week from March 14 to March 20, on the Orbis Steel Index the scrap indexes maintained their upward trend. In the given week, the Turkish rebar index started to move downward and the Turkish flat rolled indexes indicated upward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from March 14 to March 20 as per product are as follows:
Turkish Scrap Index continued to increase, with the index value rising by 6.45 percent week on week to 88.9.
US (East Coast) HMS I/II Scrap Export Index increased by 4.37 percent to 101.18 compared to the previous week.
Turkish Rebar Index started to decrease, with the index value falling 0.38 percent to 91.81 compared to the previous week.
Turkish HRC Index moved upwards, with the index value rising 0.19 percent week on week to 62.9.
Black Sea HRC Export Index has not shown any changes compared to the previous week. The index value stayed at 58.87.
Turkish HDG Index continued its upward movement, with the index value increasing by 1.49 percent week on week to 85.8.
Turkish CRC Index followed a stable trend, with the index value remaining at 74.66.
*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.