Scrap switches to sideways movement on Orbis Steel Index

Monday, 23 December 2013 17:51:18 (GMT+3)   |   Istanbul
       

In the week from December 16 to December 22, on the Orbis Steel Index the scrap indexes switched to sideways movement. In the given week, the Turkish rebar index moved upwards, 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 16 to December 22 as per product are as follows:
 
Turkish Scrap Index has not shown any changes compared to the previous week. The index value stayed at 168.93.

US (East Coast) HMS I/II Scrap Export Index moved sideways with the index value remaining at 170.59.

Turkish Rebar Index increased by 1.31 percent in the given week, with the index value rising to 150.54.

Turkish HRC Index maintained stable movement, with the index value staying at 98.37.

Black Sea HRC Export Index switched to sideways movement in the week in question. The index value remained at 104.5.

Turkish HDG Index followed a stable trend, with the index value remaining at 100.95.

Turkish CRC Index continued to move sideways, with the index value staying 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.


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