In the week from May 20 to May 26, the scrap indexes moved downwards for the fifth consecutive week on the Orbis Steel Index. In the given week, the Turkish rebar index maintained its downward movement, while the Turkish flat rolled product indexes continued to move sideways.
As per the Orbis Steel Index data, the index movements in the week from May 20 to May 26 as per product are as follows:
Turkish Scrap Index decreased 1.52 percent to 153.47 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained its downward movement, falling 2.26 percent week on week to 152.94.
Turkish Rebar Index moved downwards in the given week. The index value decreased by 0.77 percent week on week to 142.25.
Turkish HRC Index did not show any changes compared to the previous week. The index value remained at 100.
Black Sea HRC Export Index continued to move sideways, with the index value staying at 100.95.
Turkish HDG Index maintained its sideways movement. The index value stayed at 102.84.
Turkish CRC Index moved sideways for the third consecutive week, with the index value remaining 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