In the week from November 12 to November 18, on the Orbis Steel Index the scrap indexes started to decrease. In the given week, the Turkish rebar index moved downwards after four weeks of increases. While the Black Sea HRC export index started to increase following three weeks of sideways movement, the Turkish flat rolled indexes did not show any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from November 12 to November 18 as per product are as follows:
Turkish Scrap Index moved downwards in the given week. The index value decreased by 0.48 percent to 167.14 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.31 percent week on week to 177.65.
Turkish Rebar Index declined by 0.51 percent to 149.07 compared to the previous week.
Turkish HRC Index maintained its sideways movement in the week in question, with the index value remaining at 101.63.
Black Sea HRC Export Index started to move upwards. The index value increased by 2.24 percent to 97.39.
Turkish HDG Index continued to move sideways in the given week. The index value stayed at 95.27.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 98.29.
*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