In the week from February 15 to February 21, on the Orbis Steel Index the Turkish scrap index started to decrease, while the US (East Coast) HMS I/II scrap export index increased. In the given week, the Turkish rebar index showed downward movement and the Turkish flat rolled indexes moved upwards.
As per the Orbis Steel Index data, the index movements in the week from February 15 to February 21 as per product are as follows:
Turkish Scrap Index moved downwards, with the index value falling 0.48 percent week on week to 70.5.
Turkish Rebar Index decreased by 1.79 percent week on week to 74.26.
Turkish HRC Index started to increase, with the index value rising by 1.45 percent to 57.32 compared to the previous week.
Black Sea HRC Export Index increased by 1.93 percent to 50.24 compared to the previous week.
Turkish HDG Index switched to upward movement, with the index value increasing by 1.78 percent week on week to 71.92.
Turkish CRC Index moved upwards, rising 2.33 percent week on week to 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.