In the week from October 24 to October 30, the Orbis Steel Index has continued to observe downwards and sideways movements only. While the Turkish scrap index switched to sideways movement, the US (East Coast) HMS I/II scrap export index continued to decrease in the given week. The Turkish rebar index also continued to decrease, marking its sixth straight week of decrease. Among the flat rolled products, the Black Sea HRC index and the Turkish HDG index moved sideways this week, while the others continued their downward movement.
As per the Orbis Steel Index data, the index movements in the week from October 24 to October 30 as per product are as follows:
Turkish Scrap Index has not shown any changes compared to the previous week. The index value remained at 178.92.
US (East Coast) HMS I/II Scrap Export Index continued to decrease in the given week. The index value dropped 0.75 percent to 187.06 compared to the previous week.
Turkish Rebar Index decreased by 1.23 percent to 161.64, marking the sixth consecutive week of decrease.
Turkish HRC Index decreased by 3.4 percent to 115.45 compared to the previous week.
Black Sea HRC Export Index moved sideways in the given week. The index value stayed at 120.38.
Turkish HDG Index has not shown any changes compared to the previous week. The index value remained at 114.2.
Turkish CRC Index continued to decrease in the week in question, with the index value dropping 1.16 percent to 116.44.
*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.
01.01.2005 value is 100.