In the week from May 7 to May 13, the scrap indexes have not shown any changes compared to the previous week on the Orbis Steel Index. In the given week, the Turkish rebar index switched back to downward movement. The Turkish HDC and Turkish CRC indexes started to decrease after weeks of sideways movement. Meanwhile, no increases have been observed on the Orbis Steel Index in the week in question.
As per the Orbis Steel Index data, the index movements in the week from May 7 to May 13 as per product are as follows:
Turkish Scrap Index continued to move sideways, with the index value remaining at 188.79.
US (East Coast) HMS I/II Scrap Export Index has not shown any changes in the given week. The index value stayed at 196.47.
Turkish Rebar Index decreased by 1.32 percent to 158.79 compared to the previous week.
Turkish HRC Index started to move downwards. The index value decreased 0.71 percent to 113.01.
Black Sea HRC Export Index moved sideways in the week in question, remaining at 116.35.
Turkish HDG Index moved started to decrease this week. The index value fell 2.39 percent to 102.84.
Turkish CRC Index dropped by 1.25 percent week on week to 108.22.
*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