In the week from October 3 to October 9, scrap index values in the Orbis Steel Index started to decrease after several weeks of sideways and upward movement. While the Turkish HRC index decreased for the fourth consecutive week, all the other flat rolled products moved sideways this week. The Turkish rebar index continued to decrease, marking the third consecutive week of decrease.
As per the Orbis Steel Index data, the index movements in the week from October 3 to October 9 as per product are as follows:
Turkish Scrap Index started to decrease this week. The index value dropped 2.05 percent week on week to 189.12.
US (East Coast) HMS I/II Scrap Export Index decreased 2.51 percent to 201.18 compared to the previous week.
Turkish Rebar Index decreased for the third consecutive week, with the index value dropping 1.09 percent to 173.88.
Turkish HRC Index continued to decrease this week. The index value dropped 0.67 percent to 120.33.
Black Sea HRC Export Index switched to sideways movement this week, with the index value remaining at 127.01.
Turkish HDG Index has not shown any changes compared to the previous week. The index value has remained at 117.35.
Turkish CRC Index moved sideways this week, with the index value staying at 119.86.
*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.