In the week from July 14 to July 20, on the Orbis Steel Index the scrap indexes moved upwards. In the given week, the Turkish rebar index increased slightly, while the Turkish flat rolled product indexes showed either upward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from July 14 to July 20 as per product are as follows:
Turkish Scrap Index increased by 0.26 percent to 147.7 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising 0.3 percent week on week to 159.29.
Turkish Rebar Index increased slightly, with the index value rising by 0.02 percent week on week to 129.88.
Turkish HRC Index moved sideways in the given week. The index value stayed at 98.37.
Black Sea HRC Export Index moved upwards. The index value increase by 1.64 percent to 102.61 compared to the previous week.
Turkish HDG Index increased by 0.95 percent week on week to 100.95.
Turkish CRC Index switched to sideways movement in the week in question. The index value remained at 93.15.
*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.
