In the week from November 9 to November 15, on the Orbis Steel Index the scrap indexes continued to move upwards. In the given week, the Turkish rebar index switched to downward movement, while the Turkish flat rolled indexes indicated diverse trends.
As per the Orbis Steel Index data, the index movements in the week from November 9 to November 15 as per product are as follows:
Turkish Scrap Index moved upwards with the index value rising by 2.25 percent week on week to 80.5.
US (East Coast) HMS I/II Scrap Export Index continued to increase, with the index value rising by 1.42 percent week on week to 83.76.
Turkish Rebar Index switched to downward movement in the given week. The index decreased by 0.28 percent week on week to 81.7.
Turkish HRC Index maintained its sideways movement, with the index value staying at 58.13.
Black Sea HRC Export Index started to move sideways with the index value remaining at 53.55.
Turkish HDG Index increased by 9.09 percent to 75.71 compared to the previous week.
Turkish CRC Index decreased by 2.16 percent week on week to 61.99.
*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.