In the week from May 11 to May 17, on the Orbis Steel Index the scrap indexes continued to increase. In the given week, the Turkish rebar index maintained its upward movement, while the Turkish flat rolled indexes moved sideways.
As per the Orbis Steel Index data, the index movements in the week from May 11 to May 17 as per product are as follows:
Turkish Scrap Index continued to move upwards with the index value rising 1.87 percent week on week to 114.37.
US (East Coast) HMS I/II Scrap Export Index increased by 2.01 percent to 119.53 compared to the previous week.
Turkish Rebar Index maintained its upward movement. The index value increased by 0.72 percent week on week to 108.22.
Turkish HRC Index switched to sideways movement in the given week. The index value stayed at 76.02.
Black Sea HRC Export Index started to move upwards, with the index value rising by 0.69 percent to 69.91.
Turkish HDG Index continued to move sideways. The index value remained at 80.13.
Turkish CRC Index moved sideways in the given week, with the index value staying at 79.79.
*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.