In the week from October 17 to October 23, the Orbis Steel Index has recorded no increases. Scrap index values decreased this week for the third consecutive week, while the Turkish rebar index marked its fifth straight week of decrease. The Turkish HRC index started to decrease again after the sideways movement seen in the previous week, while the Turkish HDG and CRC indexes also continued to decrease this week.
As per the Orbis Steel Index data, the index movements in the week from October 17 to October 23 as per product are as follows:
Turkish Scrap Index decreased 1.91 percent to 178.92 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index fell 2.91 percent to 188.47 compared to the previous week.
Turkish Rebar Index continued to decrease in the week in question. The index value dropped 2.88 percent to 163.65.
Turkish HRC Index started to decrease in the given week, with the index value dropping 0.68 percent to 119.51.
Black Sea HRC Export Index continued to decrease. The index value fell 1.74 percent to 120.38.
Turkish HDG Index decreased by 1.63 percent to 114.2 compared to the previous week.
Turkish CRC Index continued to decrease in the week in question, with the index value dropping 1.43 percent to 117.81.
*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.