In the week from November 24 to November 30, on the Orbis Steel Index the scrap indexes started to move upwards. In the given week, the Turkish rebar index moved upwards after declining for many weeks, while the Turkish flat rolled indexes indicated either sideways or downward movement.
As per the Orbis Steel Index data, the index movements in the week from November 24 to November 30 as per product are as follows:
Turkish Scrap Index started to move upwards. The index value increased by 0.43 percent week on week to 122.38.
US (East Coast) HMS I/II Scrap Export Index increased by 1.49 percent to 127.76 compared to the previous week.
Turkish Rebar Index moved upwards in the given week, with the index value rising 0.47 percent week on week to 112.12.
Turkish HRC Index continued to decline, with the index value falling 2.57 percent to 92.68 compared to the previous week.
Black Sea HRC Export Index maintained its sideways movement. The index value stayed at 98.34.
Turkish HDG Index switched to sideways movement, with the index value remaining at 95.27.
Turkish CRC Index has not shown any changes compared to the previous week. The index value stayed 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.