In the week from June 11 to June 17, the scrap indexes declined for the fifth consecutive week on the Orbis Steel Index. In the given week, the Black Sea HRC export index switched to downward movement, while all the other flat rolled indexes declined. No upward movement was observed on the index in the week in question.
As per the Orbis Steel Index data, the index movements in the week from June 11 to June 17 as per product are as follows:
Turkish Scrap Index continued to decrease. The index value fell 5.36 percent week on week to 159.01.
US (East Coast) HMS I/II Scrap Export Index declined by 2.11 percent to 163.53 compared to the previous week.
Turkish Rebar Index moved downwards in the given week. The index value decreased by 2.32 percent week on week to 149.32.
Turkish HRC Index continued to decrease. The index value dropped 3.08 percent week on week to 102.44.
Black Sea HRC Export Index started to move downwards in the week in question. The index value decreased by 4.51 percent to 105.45.
Turkish HDG Index decreased by 3.16 percent to 96.53 compared to the previous week.
Turkish CRC Index dropped by 1.64 percent week on week to 102.74 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