In the week from November 7 to November 13, the Turkish rebar index has seen its first upward movement after seven weeks of decrease on the Orbis Steel Index. Meanwhile, the scrap indexes switched to sideways movement in the given week. In the week in question, while the Turkish CRC index moved sideways, the other flat rolled products continued their downward movement.
As per the Orbis Steel Index data, the index movements in the week from November 7 to November 13 as per product are as follows:
Turkish Scrap Index has not shown any changes compared to the previous week. The index value remained at 176.86.
US (East Coast) HMS I/II Scrap Export Index moved sideways in the given week. The index value stayed at 183.29.
Turkish Rebar Index started to increase after seven weeks of downward movement. The index value rose by 0.2 percent to 157.93.
Turkish HRC Index continued to decrease in the week in question. The index value dropped by 0.71 percent to 113.01 compared to the previous week.
Black Sea HRC Export Index decreased by 1.61 percent to 115.17 in the given week.
Turkish HDG Index continued to decrease in the week in question, with the index value dropping 1.11 percent to 112.3.
Turkish CRC Index switched to sideways movement this week. The index value stayed at 115.75.
*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.