In the week from November 5 to November 11, on the Orbis Steel Index the scrap indexes maintained their upward movement. In the given week, the Turkish rebar index continued to increase, rising for the fourth consecutive week. The flat rolled indexes did not show any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from November 5 to November 11 as per product are as follows:
Turkish Scrap Index increased by 3.71 percent to 167.94 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising by 4.08 percent week on week to 180.
Turkish Rebar Index increased by 1.13 percent to 149.83 compared to the previous week.
Turkish HRC Index continued to move sideways in the given week. The index value stayed at 101.63.
Black Sea HRC Export Index maintained sideways movement, with the index value remaining at 95.26.
Turkish HDG Index has not shown any changes compared to the previous week. The index value remained at 95.27.
Turkish CRC Index switched to sideways movement in the week in question with the index value remaining at 98.29.
*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