In the week from November 21 to November 27, the Turkish scrap index has moved sideways for the third consecutive week, while the Turkish rebar index has slightly increased in the given week. Meanwhile, the flat rolled indexes on the Orbis Steel Index have not seen any upward movement.
As per the Orbis Steel Index data, the index movements in the week from November 21 to November 27 as per product are as follows:
Turkish Scrap Index continued its sideways movement this week. The index value remained at 176.86.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.64 percent to 181.18 compared to the previous week.
Turkish Rebar Index moved upwards in the week in question. The index value increased by 0.63 percent week on week to 156.8.
Turkish HRC Index dropped 1.45 percent to 109.76 compared to the previous week.
Black Sea HRC Export Index moved downwards for the fourth consecutive week. The index value decreased by 3.74 percent to 109.95 compared to the previous week.
Turkish HDG Index switched to sideways movement in the given week, with the index value remaining at 111.04.
Turkish CRC Index continued to decrease in the week in question. The index value dropped 1.84 percent week on week to 109.59.
*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.