In the week from November 10 to November 16, on the Orbis Steel Index the scrap indexes maintained their downward movement. In the given week, the Turkish rebar index continued to decline, while the Turkish flat rolled indexes have not shown any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from November 10 to November 16 as per product are as follows:
Turkish Scrap Index decreased by 3.31 percent to 122.68 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index continued to move downwards, with the index value falling 6.91 percent week on week to 126.82.
Turkish Rebar Index moved downwards, with the index value declining by 3.37 percent week on week to 117.03.
Turkish HRC Index switched to stable movement in the given week. The index value remained at 95.53.
Black Sea HRC Export Index moved sideways with the index value staying at 98.34.
Turkish HDG Index continued to move sideways, with the index value staying at 98.42.
Turkish CRC Index has not shown any changes compared to the previous week, with the index value remaining at 94.52.
*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.