In the week from June 8 to June 14, on the Orbis Steel Index the Turkish scrap index maintained its downward movement, while the US (East Coast) HMS I/II scrap export index continued to move sideways. In the given week, the Turkish rebar index moved downwards for the third consecutive week, while the Turkish flat rolled indexes mostly moved sideways.
As per the Orbis Steel Index data, the index movements in the week from June 8 to June 14 as per product are as follows:
Turkish Scrap Index continued to decline. The index value went down by 1.15 percent to 110.45 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained its sideways movement. The index value stayed at 117.65.
Turkish Rebar Index moved downwards, with the index value falling by 2.69 percent week on week to 102.37.
Turkish HRC Index continued to move sideways, with the index value remaining at 74.39.
Black Sea HRC Export Index started to move downwards in the given week. The index value declined by 2.36 percent to 68.72 compared to the previous week.
Turkish HDG Index moved upwards, with the index value rising by 0.79 percent week on week to 80.76.
Turkish CRC Index followed a stable trend, with the index value staying at 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.