In the week from February 22 to February 28, on the Orbis Steel Index the scrap indexes moved on an upward trend. In the given week, the Turkish rebar index showed upward movement and the Turkish flat rolled indexes indicated diverse trends.
As per the Orbis Steel Index data, the index movements in the week from February 22 to February 28 as per product are as follows:
Turkish Scrap Index increased by 5.69 percent week on week to 74.83.
US (East Coast) HMS I/II Scrap Export Index continued its upward trend with the index value increasing by 5.76 percent week on week to 86.35.
Turkish Rebar Index moved upwards, with the index value rising by 3.2 percent week on week to 76.64.
Turkish HRC Index switched to sideways movement, remaining at 57.32.
Black Sea HRC Export Index maintained its upward movement. The index value increased by 4.72 percent week on week to 52.61.
Turkish HDG Index started to decline, with the index value falling 3.5 percent week on week to 69.4.
Turkish CRC Index has not shown any change week on week, with the index value remaining at 60.27.
*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.