In the week from March 21 to March 27, 2011, index values of the most products on the Orbis Steel Index displayed a correction. Turkey Scrap Index stood out as the increasing index item.
As of March 27, 2011, as per the Orbis Steel Index data, weekly index movements as per product are as follows:
Turkey Scrap Index has seen a 0.42 percent week-on-week increase, with the index value up to 188.28.
US (East Coast) HMS I/II Scrap Export Index has seen a 0.59 percent week-on-week decrease, with the index value still at 200.
Turkish Rebar Index dropped by 0.8 percent to 159.03 in the week in question.
Turkish HRC Index has dropped by 0.64 percent in the given week, with the index value decreased to 127.64 percent from 128.46 maintained for five week in a row.
Black Sea HRC Index dropped by 1.02 percent in the week in question, with the index value declining to 138.39.
*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.