In the week from October 13 to October 19, on the Orbis Steel Index the scrap indexes maintained their downward movement. In the given week, the Turkish rebar index continued to move downwards, while the Turkish flat rolled indexes mostly moved sideways.
As per the Orbis Steel Index data, the index movements in the week from October 13 to October 19 as per product are as follows:
Turkish Scrap Index moved downwards, with the index value falling 1.95 percent to 133.55 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 2.76 percent week on week to 140.94.
Turkish Rebar Index continued to move downwards. The index value declined by 0.66 percent week on week to 126.98.
Turkish HRC Index maintained its sideways movement in the given week. The index value remained at 100.
Black Sea HRC Export Index started to decrease, with the index value falling 1.37 percent to 102.13 compared to the previous week.
Turkish HDG Index moved downwards in the given week, with the index value declining by 1.26 percent to 98.42 compared to the previous week.
Turkish CRC Index has not shown any changes compared to the previous week, with the index value staying at 94.52.
*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.