In the week from May 30 to June 5, on the Orbis Steel Index the Turkish rebar index registered a rising trend, as did the scrap indexes
Both upward movement and sideways movement on the Orbis Steel Index during the week in question. The highest week-on-week growth rate seen in the week from May 30 to June 5 was again on the Turkish rebar index, as in the previous week. Meanwhile, the Turkish HRC index has followed a sideways movement for two weeks in a row.
As of June 6, 2011, as per the Orbis Steel Index data, the weekly index movements as per product are as follows:
Turkish Scrap Index has seen a 0.91 percent week-on-week increase, with the index value up to 197.61.
US (East Coast) HMS I/II Scrap Export Index continued its upward movement, increasing by 1.73 percent in the week in question, with the index value up to 207.06.
Turkish Rebar Index saw an increase for the seventh consecutive week, rising by 3.99 percent to 183.91 compared to the previous week.
Turkish HRC Index has not seen any changes this week and remained at 128.46, following its sideways movement in the previous week.
Black Sea HRC Index has moved sideways this week after the increase seen in the previous week. The index value has remained at 131.99.
*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.