On the Orbis Steel Index for the week from August 29 to September 4, the Turkish scrap index moved upwards, the US (East Coast) HMS I/II scrap export index declined, the Turkish rebar index continued to decrease, while the Turkish flat rolled indexes indicated either sideways or upward movement.
As per the Orbis Steel Index data, the index movements in the week from August 29 to September 4 as per product are as follows:
Turkish Scrap Index moved upwards, rising by 0.2 percent to 93.36.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.93 percent to 100.47.
Turkish Rebar Index continued to decline, falling by a slight margin of 0.04 percent to 90.48.
Turkish HRC Index switched to an upward trend, rising by 1.46 percent to 66.68.
Black Sea HRC Export Index maintained its sideways movement, staying at 72.34.
Turkish HDG Index continued to move sideways at 71.29.
Turkish CRC Index followed a stable trend 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