In the week from May 16 to May 22, on the Orbis Steel Index the Turkish scrap index moved downwards, while the US (East Coast) HMS I/II scrap export index remained stable. In the given week, the Turkish rebar index maintained its downward trend, 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 16 to May 22 as per product are as follows:
Turkish Scrap Index moved downwards, with the index value falling 4.48 percent week on week to 109.39.
US (East Coast) HMS I/II Scrap Export Index is unchanged compared to the previous week, with the index value remaining at 143.06.
Turkish Rebar Index moved downwards for the second consecutive week. The index value decreased by 6.25 percent to 106.73 compared to the previous week.
Turkish HRC Index remained unchanged compared to the previous week. The index value stayed at 89.27.
Black Sea HRC Export Index switched to sideways movement, with the index value staying at 90.75.
Turkish HDG Index started to decrease in the given week. The index value declined by 2.67 percent week on week to 92.11.
Turkish CRC Index declined by 3.66 percent to 90.41 compared to the previous week.
*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.