In the week from October 27 to November 2, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index continued to decrease, while the Turkish flat rolled indexes mostly moved sideways.
As per the Orbis Steel Index data, the index movements in the week from October 27 to November 2 as per product are as follows:
Turkish Scrap Index decreased by 1.31 percent week on week to 131.21.
US (East Coast) HMS I/II Scrap Export Index moved downwards, with the index value falling two percent week on week to 138.12.
Turkish Rebar Index continued to decrease, with the index value falling 1.56 percent to 122.8 compared to the previous week.
Turkish HRC Index moved downwards in the given week, with the index value declining by 2.58 percent week on week to 97.15.
Black Sea HRC Export Index switched to sideways movement. The index value remained at 98.34.
Turkish HDG Index maintained its sideways movement, with the index value staying at 98.42.
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.