Orbis Steel Index: Sideways movement in steel markets due to holidays

In the week from August 29 to September 4, affected mostly by the Ramadan holiday in the Middle East region and Turkey, sideways movement has been observed predominantly in the Orbis Steel Index. However, in the previous week from August 22 to August 28, the Turkish scrap index decreased after three consecutive weeks of sideways movement, while the only upward movement was observed in the Turkish rebar index.  On the other hand, flat rolled products have shown no changes for the past two weeks.
 
As per the Orbis Steel Index data, the index movements in the week from August 29 to September 4 as per product are as follows:
 
Turkish Scrap Index has moved sideways in the given week after decreasing by 1.51 percent in the previous week. The index value remains at 190.86.
 
US (East Coast) HMS I/II Scrap Export Index has shown no changes for two consecutive weeks. The index value remains at 204.
 
Turkish Rebar Index has moved sideways in the week in question after increasing by 0.77 percent in the previous week. The index value is registered at 177.67.
 
Turkish HRC Index has continued to stay neutral for the fourth consecutive week. The index value remains at 125.2.
 
Black Sea HRC Export Index has continued its sideways movement which started in the previous week. The index value remains at 133.65.
 
Turkish HDG Index had switched to sideways movement in the previous week, with the index value remaining at 118.61 for two weeks.
 
Turkish CRC Index moved sideways for the third consecutive week with the index value remaining at 124.66.
 
*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.