In the week from May 25 to May 31, on the Orbis Steel Index the scrap indexes declined. In the given week, the Turkish rebar index started to move downwards, while the Turkish flat rolled indexes mostly moved downwards.
As per the Orbis Steel Index data, the index movements in the week from May 25 to May 31 as per product are as follows:
Turkish Scrap Index continued to decline, falling 1.52 percent to 112.2 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.4 percent week on week to 117.65.
Turkish Rebar Index moved downwards, with the index value decreasing by 0.5 percent week on week to 108.6.
Turkish HRC Index started to decline. The index value decreased by 2.14 percent week on week to 74.39.
Black Sea HRC Export Index switched to sideways movement, with the index value remaining at 70.38.
Turkish HDG Index maintained its sideways movement. The index value stayed at 80.13.
Turkish CRC Index continued to move downwards. The index value decreased by 1.75 percent week on week to 77.05.
*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.