The Orbis Steel index has entered the second week of 2011 with a continued increasing trend.
On the second Monday of the year, prices of steel products are still increasing, with stronger margins compared to last week.
As of January 10, 2011, the Orbis Steel Index values are summarized as follows:
US (East Coast) HMS I/II scrap export index - a weekly increase of 6.73 percent to reach today's value of 223.50
Turkish Scrap Index - a weekly increase of 4.89 percent to reach today's value of 203.47
Turkish Rebar Index - a weekly increase of 3.63 percent to reach today's value of 166.47
Turkish HRC Index - a weekly increase of 4.17 percent to reach today's value of 121.94
China HRC export index - a weekly increase of 2.37 percent to reach today's value of 114.04
*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.