In the week from October 10 to October 16, no increases have been observed in the Orbis Steel Index. Scrap index values continued to decline and the Turkish rebar index marked its fourth consecutive week of decrease. While the only sideways movement has been seen in the Turkish HRC index, other flat rolled products moved downward in the week in question.
As per the Orbis Steel Index data, the index movements in the week from October 10 to October 16 as per product are as follows:
Turkish Scrap Index decreased 3.55 percent to 182.4 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index continued to decrease, with the index value declining 3.51 percent to 194.12.
Turkish Rebar Index decreased for the fourth consecutive week, with the index value dropping 3.09 percent to 168.51.
Turkish HRC Index switched to sideways movement in the given week, with the index value remaining at 120.33.
Black Sea HRC Export Index started to decrease again. The index value dropped 3.54 percent to 122.51.
Turkish HDG Index decreased by 1.07 percent to 116.09 compared to the previous week.
Turkish CRC Index started to decrease in the week in question, with the index value dropping 0.28 percent to 119.52.
*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.