In the week from October 23 to October 29, on the Orbis Steel Index the scrap indexes continued to decrease, the Turkish rebar index maintained its upward movement, while the Turkish flat rolled indexes still indicated either downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from October 23 to October 29 as per product are as follows:
Turkish Scrap Index continued its downward trend. The index value decreased by 0.63 percent week on week to 120.69.
US (East Coast) HMS I/II Scrap Export Index declined by 0.78 percent to 135.06 compared to the previous week.
Turkish Rebar Index maintained its upward movement, with the index value rising by 0.84 percent week on week to 125.45.
Turkish HRC Index decreased by 0.49 percent to 93.75 compared to the previous week.
Black Sea HRC Export Index continued to move downwards, with the index value falling 1.14 percent week on week to 103.91.
Turkish HDG Index started to decrease. The index value fell by 1.95 percent week on week to 95.27.
Turkish CRC Index remained unchanged at 95.89.
*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.