In the week from May 2 to May 8, on the Orbis Steel Index the scrap indexes maintained their upward movement. In the given week, the Turkish rebar index increased for the seventh consecutive week, while the Turkish flat rolled product indexes continued to rise.
As per the Orbis Steel Index data, the index movements in the week from May 2 to May 8 as per product are as follows:
Turkish Scrap Index maintained its upward movement. The index value went up by 5.74 percent week on week to 125.96.
US (East Coast) HMS I/II Scrap Export Index continued to increase, with the index value rising 2.01 percent to 148.94 compared to the previous week.
Turkish Rebar Index increased by 2.8 percent to 122.96 compared to the previous week.
Turkish HRC Index moved upwards, with the index value rising by 7.3 percent week on week to 89.58.
Black Sea HRC Export Index indicated upward movement. The index value increased by 2.01 percent week on week to 90.64 percent.
Turkish HDG Index continued its rising movement, with the index value increasing by 3.45 percent week on week to 94.64.
Turkish CRC Index continued to increase. The index value rose by 4.55 percent week on week to 94.52.
*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.