In the week from December 10 to December 16, on the Orbis Steel Index the scrap indexes moved downward, with the US (East Coast) HMS I/II scrap export index decreasing for the fifth consecutive week. In the given week, the Turkish HDG index started to move upwards, while the Turkish HRC and CRC indexes switched to sideways movement.
As per the Orbis Steel Index data, the index movements in the week from December 10 to December 16 as per product are as follows:
Turkish Scrap Index decreased by 1.65 percent week on week to 160.49.
US (East Coast) HMS I/II Scrap Export Index maintained its downward movement. The index value decreased by 4.1 percent to 164.71.
Turkish Rebar Index dropped by 0.29 percent to 143.23 compared to the previous week.
Turkish HRC Index switched to sideways movement in the given week. The index value stayed at 99.19.
Black Sea HRC Export Index continued to increase, with the index value rising by 2.36 percent to 102.61 compared to the previous week.
Turkish HDG Index started to move upwards in the week in question. The index value increased by 1.32 percent to 96.53.
Turkish CRC Index moved sideways in the given week. The index value remained at 96.92.
*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