In the week from May 26 to June 1, on the Orbis Steel Index the scrap indexes moved downwards. In the given week, the Turkish rebar index increased slightly following five weeks of downward movement, while the Turkish flat rolled indexes moved sideways.
As per the Orbis Steel Index data, the index movements in the week from May 26 to June 1 as per product are as follows:
Turkish Scrap Index continued to move downwards, with the index value falling 0.27 percent to 149.51 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.59 percent week on week to 159.06.
Turkish Rebar Index started to move upwards in the given week. The index value increased by 0.2 percent to 132.14 compared to the previous week.
Turkish HRC Index maintained its sideways movement, with the index value remaining at 98.37.
Black Sea HRC Export Index moved sideways, with the index value staying at 101.66.
Turkish HDG Index followed a stable trend. The index value stayed at 99.37.
Turkish CRC Index has not shown any changes compared to the previous week, with the index value remaining at 95.89.
*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.