In the week from April 15 to April 21, the scrap indexes moved sideways on the Orbis Steel Index. In the given week, the Turkish rebar index started to increase following three weeks of downward movement. While the Black Sea HRC Export index continued to decrease, Turkish flat rolled product indexes have not shown any changed compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from April 15 to April 21 as per product are as follows:
Turkish Scrap Index moved sideways, with the index value remaining at 164.85.
US (East Coast) HMS I/II Scrap Export Index registered sideways movement. The index value stayed at 170.59.
Turkish Rebar Index started to move upwards in the given week. The index value increased by 0.29 percent week on week to 146.08.
Turkish HRC Index maintained its sideways movement, with the index value staying at 101.63.
Black Sea HRC Export Index continued to decrease in the given week. The index value fell 1.57 percent to 104.03 compared to the previous week.
Turkish HDG Index switched to a sideways trend, following two weeks of decrease. The index value remained at 103.47.
Turkish CRC Index has not shown any changes compared to the previous week, with the index value remaining at 104.11.
*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.
