In the week from May 14 to May 20, the scrap indexes started to decrease on the Orbis Steel Index. In the given week, the Black Sea HRC index registered a decline after two weeks of sideways movement. The Turkish rebar index continued to decrease, while the Turkish CRC index switched to sideways movement. Meanwhile, in the given week the Orbis Steel Index again failed to see any increases.
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 started to decrease in the week in question, with the index value declining by 2.18 week on week percent to 184.67.
US (East Coast) HMS I/II Scrap Export Index decreased by 2.4 percent to 191.76 compared to the previous week.
Turkish Rebar Index continued to decrease in the given week. The index value fell 0.38 percent to 158.19 compared to the previous week.
Turkish HRC Index did not show any changes compared to the previous week. The index value stayed at 113.01.
Black Sea HRC Export Index started to move downwards in the given week. The index value dropped 5.09 percent to 110.43.
Turkish HDG Index decreased by 1.84 percent to 100.95 compared to the previous week.
Turkish CRC Index moved sideways in the week in question, remaining at 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