In the week from January 28 to February 3, on the Orbis Steel Index the scrap indexes maintained downward movement. In the given week, the Turkish rebar index continued to decrease, marking the third consecutive week of downward movement. All the flat rolled product indexes moved sideways in the week in question.
As per the Orbis Steel Index data, the index movements in the week from January 28 to February 3 as per product are as follows:
Turkish Scrap Index decreased by 1.62 percent week on week to 163.61.
US (East Coast) HMS I/II Scrap Export Index continued to decrease, with the index value falling 1.1 percent to 168.71 compared to the previous week.
Turkish Rebar Index moved downward in the given week. The index value decreased by 0.75 percent week on week to 145.14.
Turkish HRC Index maintained its sideways movement. The index value remained at 105.69.
Black Sea HRC Export Index switched to sideways movement in the week in question, with the index value staying at 109.24.
Turkish HDG Index did not show any changes compared to the previous week. The index value stayed at 102.84.
Turkish CRC Index continued to move sideways in the given week, with the index value remaining 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.
