In the week from October 31 to November 6, only downward movements have been observed in the Orbis Steel Index. While the scrap indexes continued to decrease in the given week. In te week in question, the Turkish rebar index decreased for the seventh consecutive week. Among the flat rolled products, the Black Sea HRC index and the Turkish HDG index started to decrease again in the given week, following last week's sideways movement.
As per the Orbis Steel Index data, the index movements in the week from October 31 to November 6 as per product are as follows:
Turkish Scrap Index decreased by 1.15 percent to 176.86 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased for the fifth consecutive week in the given week. The index value dropped 2.02 percent to 183.29 compared to the previous week.
Turkish Rebar Index continued to decrease this week. The index value fell by 2.49 percent to 157.61.
Turkish HRC Index decreased by 1.41 percent to 113.82 compared to the previous week.
Black Sea HRC Export Index started to decrease again. The index value dropped 2.76 percent to 117.06.
Turkish HDG Index decreased this week. The index value declined by 0.56 percent to 113.56.
Turkish CRC Index continued to decrease in the week in question, with the index value dropping 0.59 percent to 115.75.
*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.