Scrap moves upward on Orbis Steel Index

Monday, 09 April 2012 15:00:19 (GMT+2)

In the week from April 2 to April 8, the scrap indexes moved upward on the Orbis Steel Index. In the given week, the Turkish rebar index continued to decrease, marking the fourth consecutive week of downward movement. All flat rolled products moved sideways in the given week.

As per the Orbis Steel Index data, the index movements in the week from April 2 to April 8 as per product are as follows:
 
Turkish Scrap Index increased by 0.6 percent week on week to 186.38.
 
US (East Coast) HMS I/II Scrap Export Index continued to increase in the week in question. The index value rose 1.23 percent week on week to 194.12.
 
Turkish Rebar Index dropped by 0.27 percent week on week to 162.69, marking the fourth consecutive week of decrease.

Turkish HRC Index switched to sideways movement in the given week, remaining at 113.82.
 
Black Sea HRC Export Index has not shown any changes compared to the previous week. The index value has stayed at 118.48.
 
Turkish HDG Index moved sideways for the eighth consecutive week. The index value remained at 105.36.
 
Turkish CRC Index started to move sideways in the week in question. The index value stayed at 109.59.

*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