In the week from November 3 to November 9, on the Orbis Steel Index the scrap indexes continued to move downwards. In the given week, the Turkish rebar and HRC indexes maintained downward movement, while the other Turkish flat rolled indexes moved sideways.
As per the Orbis Steel Index data, the index movements in the week from November 3 to November 9 as per product are as follows:
Turkish Scrap Index continued to move downwards, with the index value falling 3.3 percent week on week to 126.88.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.36 percent to 136.24 compared to the previous week.
Turkish Rebar Index maintained its downward movement. The index value decreased by 1.38 percent week on week to 121.11.
Turkish HRC Index decreased by 1.67 percent to 95.53 compared to the previous week.
Black Sea HRC Export Index has not shown any changes compared to the previous week. The index value stayed at 98.34.
Turkish HDG Index continued to move sideways, with the index value staying at 98.42.
Turkish CRC Index moved sideways in the given 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.