In the week from May 6 to May 12, the scrap indexes maintained downward movement on the Orbis Steel Index. In the given week, the Turkish rebar index decreased for the second consecutive week. The Turkish flat rolled product indexes showed sideways movement, while no upward movement was seen 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 6 to May 12 as per product are as follows:
Turkish Scrap Index decreased by 0.23 percent week on week to 157.27.
US (East Coast) HMS I/II Scrap Export Index moved downwards, with the index value falling 1.9 percent to 158.12 compared to the previous week.
Turkish Rebar Index maintained its downward movement, with the index value declining by 0.42 percent week on week to 143.91.
Turkish HRC Index switched to sideways movement. The index value remained at 100.
Black Sea HRC Export Index continued to decrease in the given week. The index value fell 0.23 percent week on week to 100.95.
Turkish HDG Index has not shown any changes compared to the previous week, with the index value staying at 102.84.
Turkish CRC Index switched to sideways movement in the week in question. The index value remained at 103.42.
*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