In the week from November 2 to November 8, on the Orbis Steel Index the scrap indexes maintained their upward movement. In the given week, the Turkish rebar index continued to increase, while the Turkish flat rolled indexes indicated sideways movement.
As per the Orbis Steel Index data, the index movements in the week from November 2 to November 8 as per product are as follows:
Turkish Scrap Index maintained its upward movement. The index value increased by 3.84 percent week on week to 78.73.
US (East Coast) HMS I/II Scrap Export Index went up by 4.46 percent to 82.59 compared to the previous week.
Turkish Rebar Index continued to increase, with the index value rising by 3.21 percent week on week to 81.93.
Turkish HRC Index moved sideways in the given week. The index value remained at 58.13.
Black Sea HRC Export Index continued to decline. The index value decreased by 2.17 percent to 53.55 compared to the previous week.
Turkish HDG Index remained stable at 69.4.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 63.36.
*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.