Scrap still declines on Orbis Steel Index

Monday, 11 June 2012 12:04:11 (GMT+2)

In the week from June 4 to June 10, the scrap indexes continued to move downwards on the Orbis Steel Index, marking the fourth consecutive week of decline. In the given week, the flat rolled indexes saw a mixed trend, with both sideways and downwards movements. The Turkish HDG index switched to sideways movement in the week in question after four weeks of decline.

As per the Orbis Steel Index data, the index movements in the week from June 4 to June 10 as per product are as follows:

Turkish Scrap Index decreased by 4.78 percent to 168.02 compared to the previous week.
 
US (East Coast) HMS I/II Scrap Export Index moved downwards, declining by 5.96 percent week on week to 167.06.
 
Turkish Rebar Index continued to decrease in the given week. The index value fell by 0.66 week on week to 152.86.

Turkish HRC Index declined in the week in question. The index value dropped 1.14 percent week on week to 105.69.
 
Black Sea HRC Export Index maintained sideways movement in the given week. The index value remained at 110.43.
 
Turkish HDG Index switched to sideways movement, with the index value staying at 99.68.
 
Turkish CRC Index decreased by 0.32 percent to 104.45 compared to the previous week.

*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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