In the week from July 21 to July 27, on the Orbis Steel Index the Turkish scrap index moved upwards, while the US (East Coast) HMS I/II scrap export index switched to sideways movement. In the given week, the Turkish rebar index continued to increase, while the Turkish flat rolled product indexes have not shown any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from July 21 to July 27 as per product are as follows:
Turkish Scrap Index continued to move upwards, with the index value increasing by 0.32 percent to 148.18 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement. The index value stayed at 159.29.
Turkish Rebar Index increased by 0.24 percent week on week to 130.19.
Turkish HRC Index has not shown any changes in the given week, with the index value remaining at 98.37.
Black Sea HRC Export Index moved sideways. The index value stayed 102.61.
Turkish HDG Index started to move sideways in the week in question, with the index value staying at 100.95.
Turkish CRC Index maintained its sideways movement with the index value remaining at 93.15.
*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.