In the week from March 18 to March 24, the scrap indexes switched to sideways movement on the Orbis Steel Index. In the given week, the Turkish rebar index started to move upwards. The flat rolled products indexes showed both downward and sideways movements in the week in question.
As per the Orbis Steel Index data, the index movements in the week from March 18 to March 24 as per product are as follows:
Turkish Scrap Index switched to sideways movement, with the index value staying at 167.73.
US (East Coast) HMS I/II Scrap Export Index moved sideways in the given week. The index value remained at 177.65.
Turkish Rebar Index increased by just 0.1 percent to 148.79 compared to the previous week.
Turkish HRC Index decreased by 2.41 percent week on week to 98.78.
Black Sea HRC Export Index continued to decrease in the week in question. The index value fell 2.14 percent week on week to 108.53.
Turkish HDG Index did not show any changes compared to the previous week. The index value stayed at 105.39.
Turkish CRC Index maintained its sideways movement with the index value remaining at 103.42.
*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
