In the week from February 25 to March 3, on the Orbis Steel Index the Turkish scrap index decreased, while the US (East Coast) HMS I/II scrap export index moved sideways. In the given week, the Turkish rebar index maintained its upward movement. The Black Sea HRC export index switched to sideways movement, while the Turkish HRC index decreased after five weeks of sideways movement.
As per the Orbis Steel Index data, the index movements in the week from February 25 to March 3 as per product are as follows:
Turkish Scrap Index moved downwards in the given week, with the index value falling 0.58 percent week on week to 165.98.
US (East Coast) HMS I/II Scrap Export Index has not shown any changes compared to the previous week. The index value stayed at 173.88.
Turkish Rebar Index maintained its upward movement. The index value increased by 0.59 percent to 147.53 compared to the previous week.
Turkish HRC Index moved downwards in the week in question, with the index value decreasing by 1.53 percent week on week to 104.07.
Black Sea HRC Export Index moved sideways, with the index value remaining at 112.32.
Turkish HDG Index moved sideways for the third consecutive week. The index value stayed at 107.89.
Turkish CRC Index has not shown any changes compared to the previous week. The index value stayed 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.
