In the week from December 31 to January 6, on the Orbis Steel Index the Turkish scrap index continued to increase, while the US (East Coast) HMS I/II scrap export index switched to sideways movement. In the given week, the Turkish rebar index increased for the third consecutive week. The Turkish CRC index continued to move upwards, while other flat rolled product indexes remained flat compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from December 31 to January 6 as per product are as follows:
Turkish Scrap Index continued to increase, with the index value rising by 0.36 percent to 163.77 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved sideways in the given week. The index value remained at 168.24.
Turkish Rebar Index increased by 2.61 percent to 148.98 compared to the previous week.
Turkish HRC Index switched to sideways movement. The index value stayed at 101.63.
Black Sea HRC Export Index has not shown any changes compared to the previous week, with the index value staying at 102.61.
Turkish HDG Index maintained its sideways movement in the given week. The index value remained at 96.53.
Turkish CRC Index continued to move upwards. The index value increased by 1.4 percent week on week to 99.32.
*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.00
