In the week from December 9 to December 15, on the Orbis Steel Index the scrap indexes continued to increase. In the given week, the Turkish rebar index showed downward movement for the first time since the end of November, while the Turkish flat rolled product indexes maintained sideways movement.
As per the Orbis Steel Index data, the index movements in the week from December 9 to December 15 as per product are as follows:
Turkish Scrap Index increased by 0.94 percent to 168.93 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising by 1.4 percent week on week to 170.59.
Turkish Rebar Index moved downwards in the given week. The index value declined by 1.44 percent week on week to 148.6.
Turkish HRC Index has not shown any changes compared to the previous week, with the index value staying at 98.37.
Black Sea HRC Export Index decreased by 1.56 percent week on week to 104.5.
Turkish HDG Index maintained sideways movement. The index value remained at 100.95.
Turkish CRC Index continued to move sideways, with the index value staying at 100.34.
*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.