In the week from October 5 to October 11, on the Orbis Steel Index the scrap indexes continued to decline. In the given week, the Turkish rebar index continued its downward movement, while the Turkish flat rolled indexes indicated downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from October 5 to October 11as per product are as follows:
Turkish Scrap Index decreased by 2.09 percent week on week to 75.3.
US (East Coast) HMS I/II Scrap Export Index continued its downward movement in the given week, with the index value falling 4.4 percent to 76.71 compared to the previous week.
Turkish Rebar Index moved downwards by 4.54 percent week on week to 78.68.
Turkish HRC Index switched to downward movement, with the index value declining by 5.03 percent week on week to 61.38 percent.
Black Sea HRC Export Index remained unchanged at 57.82.
Turkish HDG Index moved downwards in the given week. The index value decreased by 1.78 percent to 69.4.
Turkish CRC Index started to decrease, with the index value falling 4.98 percent week on week to 65.41.
*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.