In the week from December 3rd to 9th 2012,on the Orbis Steel Index the Turkish scrap index switched to sideways movement while the US(East Coast)HMS I/II scrap export index maintained its downward movement.In the given week,the Turkish HRC and CRC indexes started to decrease after several weeks of sideways movement while the Turkish rebar index declined for the fourth consecutive week.
As per the Orbis Steel Index data,the index movements in the week from December 3 to December 9 as per product are as follows:
1.Turkish Scrap Index moved sideways in the given week.The index value stayed at 163.18.
2.US(East Coast)HMS I/II Scrap Export Index continued to decrease with the index value dropping by 0.68%WoW to 171.76.
3.Turkish Rebar Index fell 1.23 percent to 143.65 compared to the previous week.
4.Turkish HRC Index started to move downwards in the week in question.The index value decreased by 2.4%to 99.19.
5.Black Sea HRC Export Index increased by 0.96%to 100.24 compared to the previous week.
6.Turkish HDG Index maintained its sideways movement.The index value remained at 95.27.
7.Turkish CRC Index started to decrease in the given week.The index value dropped by 1.39%WoW 96.92.
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.
