In the week from December 2 to December 8, on the Orbis Steel Index the scrap indexes started to move upwards. In the given week, the Turkish rebar index indicated sideways movement for the first time in six weeks, while the Turkish flat rolled product indexes continued to move sideways.
As per the Orbis Steel Index data, the index movements in the week from December 2 to December 8 as per product are as follows:
Turkish Scrap Index started to move upwards, with the index value increasing by 0.95 percent week on week to 167.35.
US (East Coast) HMS I/II Scrap Export Index increased by 2.14 percent to 168.24 compared to the previous week.
Turkish Rebar Index switched to sideways movement, with the index value staying at 150.77.
Turkish HRC Index maintained its sideways movement. The index value remained at 98.37.
Black Sea HRC Export Index moved upwards in the given week, with the index value rising 3.7 percent to 106.16.
Turkish HDG Index continued to move sideways. The index value stayed at 100.95.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 100.34.
*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.