Scrap moves downward on Orbis Steel Index

Monday, 05 May 2014 16:24:06 (GMT+3)   |   Istanbul
       

In the week from April 28 to May 4, on the Orbis Steel Index the scrap indexes indicated downward movement. In the given week, the Turkish rebar index declined for the second consecutive week, while the Turkish flat rolled indexes did not show any changes compared to the previous week.
 
As per the Orbis Steel Index data, the index movements in the week from April 28 to May 4 as per product are as follows:

Turkish Scrap Index decreased by 0.58 percent to 163.78 compared to the previous week.

US (East Coast) HMS I/II Scrap Export Index started to decrease, with the index value falling 2.31 percent week on week to 159.76.

Turkish Rebar Index continued to move downwards. The index value declined by 1.02 percent to 149.92 compared to the previous week.

Turkish HRC Index maintained its sideways movement, with the index value staying at 96.75.

Black Sea HRC Export Index followed a stable trend in the given week. The index value remained at 100.47.

Turkish HDG Index did not show any changes compared to the previous week. The index value remained at 98.74.

Turkish CRC Index moved sideways, with the index value staying at 94.52.

*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.


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