In the week from January 21 to January 27, on the Orbis Steel Index the scrap indexes continued to decrease. In the given week, the Turkish rebar index maintained its downward movement. The Turkish HRC and CRC indexes switched to sideways movement, while the Turkish HDG index continued to increase.
As per the Orbis Steel Index data, the index movements in the week from January 21 to January 27 as per product are as follows:
Turkish Scrap Index continued to decrease, with the index value dropping by 0.85 percent to 166.3, compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index declined by 1.36 percent to 170.59 compared to the previous week.
Turkish Rebar Index maintained its downward movement. The index value decreased by 1.35 percent week on week to 146.23.
Turkish HRC Index has not shown any changes compared to the previous week, with the index value staying at 105.69.
Black Sea HRC Export Index continued to increase in the given week, with the index value rising by 1.09 percent to 109.24 compared to the previous week.
Turkish HDG Index increased by 1.24 percent week on week to 102.84.
Turkish CRC Index switched to sideways movement in the week in question. The index value remained at 102.05.
*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.
