In the week from November 23 to November 29, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index moved up, while the Turkish flat rolled indexes indicated upward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from November 23 to November 29 as per product are as follows:
Turkish Scrap Index switched to downward movement. The index value decreased by 2.57 percent to 77.87 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.71 percent to 81.18 compared to the previous week.
Turkish Rebar Index increased by 0.37 percent to 81.07 compared to the previous week.
Turkish HRC Index moved upwards with the index value rising 1.45 percent week on week to 57.32.
Black Sea HRC Export Index continued to decline. The index value decreased by 0.9 percent week on week to 51.66.
Turkish HDG Index continued to move sideways, with the index value staying at 75.71.
Turkish CRC Index maintained its stable movement, with the index value remaining at 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.