In the week from October 20 to October 26, on the Orbis Steel Index the Turkish scrap index started to move upwards, while the US (East Coast) HMS I/II scrap export index continued to move sideways. In the given week, the Turkish rebar index maintained its downward movement, while the Turkish flat rolled indexes mostly moved sideways.
As per the Orbis Steel Index data, the index movements in the week from October 20 to October 26 as per product are as follows:
Turkish Scrap Index started to move upwards, with the index value rising by a slight margin of 0.3 percent week on week to 133.95.
US (East Coast) HMS I/II Scrap Export Index moved sideways with the index value remaining at 140.94.
Turkish Rebar Index maintained its downward movement in the given week. The index value decreased by 1.76 percent to 124.74 compared to the previous week.
Turkish HRC Index has not shown any changes compared to the previous week. The index value stayed at 100.
Black Sea HRC Export Index continued to decline, with the index value falling 3.71 percent week on week to 98.34.
Turkish HDG Index switched to sideways movement, with the index value remaining at 98.42.
Turkish CRC Index continued to move sideways, with the index value staying at 94.52.
*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
