In the week from November 28 to December 4, the scrap indexes on the Orbis Steel Index started to increase. Turkish rebar index continued to increase in the given week, while Turkish HRC index continued to decrease, marking the eighth week of downward movement.
As per the Orbis Steel Index data, the index movements in the week from November 28 to December 4 as per product are as follows:
Turkish Scrap Index started to move upwards this week. The index value increased by 0.89 percent to 178.44.
US (East Coast) HMS I/II Scrap Export Index increased by 1.95 percent to 184.71 compared to the previous week.
Turkish Rebar Index continued to increase, with the index value rising by 1.38 percent week on week to 158.96.
Turkish HRC Index continued its downward movement for the eighth consecutive week. The index value decreased by 1.49 percent to 108.13.
Black Sea HRC Export Index decreased again in the week in question. The index value dropped 1.72 percent to 108.06 compared to the previous week.
Turkish HDG Index switched back to downward movement this week, with the index value falling 0.57 percent to 110.41.
Turkish CRC Index moved sideways in the given week. The index value remained at 109.59.
*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.