In the week from December 8 to December 14, on the Orbis Steel Index the scrap indexes maintained their upward movement. In the given week, the Turkish rebar index moved upwards for the third consecutive week, while the Turkish flat rolled indexes mostly indicated downward movement.
As per the Orbis Steel Index data, the index movements in the week from December 8 to December 14 as per product are as follows:
Turkish Scrap Index continued to increase with the index value rising by 1.55 percent week on week to 125.14.
US (East Coast) HMS I/II Scrap Export Index increased by 3.67 percent to 133.18 compared to the previous week.
Turkish Rebar Index moved upwards for the third consecutive week, with the index value rising by 2.43 percent week on week to 116.57.
Turkish HRC Index moved sideways in the given week. The index value stayed at 92.68.
Black Sea HRC Export Index continued to decrease, with the index value falling 4.08 percent week on week to 89.1.
Turkish HDG Index moved downwards in the given week, with the index value declining by 1.96 percent week on week to 94.32.
Turkish CRC Index decreased by 2.3 percent to 87.67 compared to the previous week.
*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.