In the week from February 18 to February 24, the scrap indexes started to increase on the Orbis Steel Index. In the given week, the Turkish rebar index continued to increase. The Black Sea HRC export index started to move downwards, while the Turkish flat rolled product indexes maintained sideways movement.
As per the Orbis Steel Index data, the index movements in the week from February 18 to February 24 as per product are as follows:
Turkish Scrap Index increased by 2.34 percent to 166.94 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising by 3.06 percent week on week to 173.88.
Turkish Rebar Index continued to increase in the given week. The index value rose by 0.89 percent to 146.66 compared to the previous week.
Turkish HRC Index maintained its sideways movement, with the index value remaining at 105.69.
Black Sea HRC Export Index moved downwards in the week in question. The index value fell 1.46 percent week on week to 112.32.
Turkish HDG Index continued to move sideways, with the index value staying at 107.89.
Turkish CRC Index moved sideways for the fifth consecutive 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.