In the week from July 4 to July 10, on the Orbis Steel Index the scrap indexes continued to decline. In the same week, the Turkish rebar index started to increase, while the Turkish flat rolled indexes remained stable.
As per the Orbis Steel Index data, the index movements in the week from July 4 to July 10 as per product are as follows:
Turkish Scrap Index maintained its downward movement, with the index value falling by 0.62 percent week on week to 88.14.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.45 percent to 95.53 compared to the previous week.
Turkish Rebar Index started to increase. The index value rose by 0.87 percent week on week to 93.27.
Turkish HRC Index has not shown any change week on week. The index value stayed at 68.98.
Black Sea HRC Export Index remained unchanged at 69.55.
Turkish HDG Index remained stable in the given week, with the index value staying at 76.97.
Turkish CRC Index maintained its sideways movement, with the index value remaining at 78.08.
*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.