In the week from November 11 to November 17, on the Orbis Steel Index the Turkish scrap index moved downwards, while the US (East Coast) HMS I/II scrap export index continued to increase compared to the previous week. In the given week, the Turkish rebar index registered a slight decrease, while the Turkish CRC index moved upwards for the first time in 14 weeks.
As per the Orbis Steel Index data, the index movements in the week from November 11 to November 17 as per product are as follows:
Turkish Scrap Index moved downwards in the given week. The index declined 1.4 percent to 168.14 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index continued to increase, with the index value rising by 9.35 percent week on week to 187.06.
Turkish Rebar Index decreased slightly by 0.14 percent to 151.84 compared to the previous week.
Turkish HRC Index continued to move sideways. The index value stayed at 97.15.
Black Sea HRC Export Index started to increase in the week in question, with the index value rising by 2.62 percent week on week to 102.37.
Turkish HDG Index moved downwards, with the index value falling 1.23 percent week on week to 100.95.
Turkish CRC Index moved upwards for the first time in 14 weeks. The index value increased by 2.44 percent to 100.34 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