In the week from December 5 to December 11, the scrap indexes continued their upward movement on the Orbis Steel Index. The Turkish rebar index saw its third consecutive week of increase, while the Turkish HRC index switched to sideways movement. No increases were observed in flat rolled products in the given week.
As per the Orbis Steel Index data, the index movements in the week from December 5 to December 11 as per product are as follows:
Turkish Scrap Index continued to increase in the given week. The index value climbed 1.78 percent week on week to 181.61.
US (East Coast) HMS I/II Scrap Export Index increased by 2.54 percent to 189.41 compared to the previous week.
Turkish Rebar Index rose 2.47 percent week on week to 162.88, marking the third consecutive week of increase.
Turkish HRC Index switched to sideways movement this week. The index value remained at 108.13.
Black Sea HRC Export Index continued to decrease in the week in question. The index value dropped 0.88 percent to 107.11 compared to the previous week.
Turkish HDG Index moved downwards again this week, with the index value decreasing by 1.71 percent week on week to 108.52.
Turkish CRC Index decreased in the given week. The index value fell 1.25 percent from the previous week to 108.22.
*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.