In the week from December 24 to December 30, on the Orbis Steel Index the scrap indexes continued to increase. In the given week, the Turkish rebar index maintained its upward movement. The Turkish HDG index continued to move sideways, while other Turkish flat rolled products started to move upwards following two weeks of sideways movement.
As per the Orbis Steel Index data, the index movements in the week from December 24 to December 30 as per product are as follows:
Turkish Scrap Index increased by 0.29 percent to 163.18 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained upward movement in the given week. The index value increased by 0.42 percent to 168.24.
Turkish Rebar Index rose by 0.68 percent to 145.19 compared to the previous week.
Turkish HRC Index started to increase in the week in question. The index value rose by 2.46 percent to 101.63.
Black Sea HRC Export Index maintained its sideways movement. The index value stayed at 102.61.
Turkish HDG Index continued to move sideways in the given week, remaining at 96.53.
Turkish CRC Index increased by 1.06 percent to 97.95 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.