In the week from May 9 to May 15, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index started to decrease, while the Turkish flat rolled product indexes indicated downward or stable movement.
As per the Orbis Steel Index data, the index movements in the week from May 9 to May 15 as per product are as follows:
Turkish Scrap Index switched to downward movement, with the index value falling 9.08 percent week on week to 114.52.
US (East Coast) HMS I/II Scrap Export Index started to decline. The index value decreased by 3.95 percent week on week to 143.06.
Turkish Rebar Index decreased by 9.66 percent to 111.08 compared to the previous week.
Turkish HRC Index did not show any changes compared to the previous week. The index value remained at 89.58.
Black Sea HRC Export Index rose by 0.12 percent to 90.75 compared to the previous week.
Turkish HDG Index switched to sideways movement, with the index value remaining at 94.64.
Turkish CRC Index moved downwards in the given week, with the index value falling 0.72 percent week on week to 93.84.
*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.