In the week from December 5 to December 11, on the Orbis Steel Index the Turkish scrap index remained on its downward trend, the US (East Coast) HMS I/II scrap export index increased, the Turkish rebar continued to move down, while the Turkish flat rolled indexes either moved sideways or upwards.
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 moved downwards, with the index value falling by 1.19 percent week on week to 102.1.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising by 4.53 percent week on week to 124.94.
Turkish Rebar Index maintained its downward movement. The index value decreased by 2.71 percent week on week to 100.62.
Turkish HRC Index went up by 1.18 percent to 85.63 compared to the previous week.
Black Sea HRC Export Index moved sideways in the given week, with the index value remaining at 93.91.
Turkish HDG Index moved upwards with the index value rising by 1.4 percent week on week to 91.48.
Turkish CRC Index indicated stable movement, with the index value remaining at 84.25.
*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