In the week from April 21 to April 27, on the Orbis Steel Index the Turkish scrap index continued to decrease, while the US (East Coast) HMS I/II scrap export index switched to sideways movement. In the given week, the Turkish rebar index moved downward, with the Turkish flat rolled indexes following a stable trend.
As per the Orbis Steel Index data, the index movements in the week from April 21 to April 27 as per product are as follows:
Turkish Scrap Index maintained its downward movement, with the index value falling 0.76 percent week on week to 164.73.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement. The index value stayed at 163.53.
Turkish Rebar Index decreased by 0.56 percent to 151.46 compared to the previous week.
Turkish HRC Index continued to move sideways in the given week, with the index value remaining at 96.75.
Black Sea HRC Export Index has not shown any changes compared to the previous week. The index value remained at 100.47.
Turkish HDG Index moved sideways, with the index value staying at 98.74.
Turkish CRC Index followed a stable trend, with the index value remaining at 94.52.
*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.
