In the week from October 28 to November 1, on the Orbis Steel Index the scrap index values moved upwards compared to the previous week. In the given week, the Turkish rebar maintained its upward movement, while the Turkish flat rolled product indexes have not shown any changes compared to the previous week.
As per the Orbis Steel Index data, the index movements in the week from October 28 to November 1 as per product are as follows:
Turkish Scrap Index increased by 4.05 percent week on week to 165.82.
US (East Coast) HMS I/II Scrap Export Index continued to increase in the given week, with the index value rising by 2.84 percent to 170.59.
Turkish Rebar Index moved upwards. The index value increased by 0.57 percent week on week to 151.24.
Turkish HRC Index continued to move sideways. The index value remained at 97.15.
Black Sea HRC Export Index decreased by 1.64 percent to 99.76 compared to the previous week.
Turkish HDG Index switched to sideways movement in the week in question, with the index value staying at 102.21.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 98.97.
*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.
