In the week from May 30 to June 5, on the Orbis Steel Index the scrap indexes continued to decrease, while the Turkish rebar index and the Turkish flat rolled indexes also continued their downward trend.
As per the Orbis Steel Index data, the index movements in the week from May 30 to June 5 as per product are as follows:
Turkish Scrap Index went down by 2.53 percent week on week to 100.18.
US (East Coast) HMS I/II Scrap Export Index moved downwards in the given week, with the index value falling 8.14 percent to 119.53 compared to the previous week.
Turkish Rebar Index declined with the index value moving down by 5.74 percent week on week to 96.19.
Turkish HRC Index moved downwards by 5.59 percent to 81.09 compared to the previous week.
Black Sea HRC Export Index continued to decline. The index value decreased by 9.11 percent week on week to 79.57.
Turkish HDG Index indicated downward movement, with the index value falling by 3.6 percent week on week to 84.54.
Turkish CRC Index decreased by 3.17 percent to 83.56 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.