In the week from December 28 to January 1, on the Orbis Steel Index the Turkish scrap index declined, while the US (East Coast) HMS I/II scrap export index moved sideways. In the given week, the Turkish rebar maintained its downward movement, whereas the Turkish flat rolled indexes remained stable.
As per the Orbis Steel Index data, the index movements in the week from December 28 to January 1 as per product are as follows:
Turkish Scrap Index decreased by 1.48 percent week on week to 73.33.
US (East Coast) HMS I/II Scrap Export Index moved sideways in the given week, with the index value remaining at 77.88.
Turkish Rebar Index moved downwards by 0.89 percent to 78.02 compared to the previous week.
Turkish HRC Index remained unchanged at 48.23 compared to the previous week.
Black Sea HRC Export Index switched to sideways movement. The index value remained stable at 50.36.
Turkish HDG Index continued to move sideways, with the index value staying at 75.71.
Turkish CRC Index maintained its stable movement. The index value stayed at 60.27.
*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.