In the week from May 5 to May 11, on the Orbis Steel Index the Turkish scrap index declined, while the US (East Coast) HMS I/II scrap export index moved upwards. In the given week, the Turkish rebar index continued to decrease, while the Turkish flat rolled indexes mostly moved sideways.
As per the Orbis Steel Index data, the index movements in the week from May 5 to May 11 as per product are as follows:
Turkish Scrap Index moved downwards, with the index value falling by 0.49 percent week on week to 162.98.
US (East Coast) HMS I/II Scrap Export Index increased by 0.15 percent to 160 compared to the previous week.
Turkish Rebar Index decreased by 0.71 percent to 148.86 compared to the previous week.
Turkish HRC Index switched to sideways movement in the given week, with the index value remaining at 98.37.
Black Sea HRC Export Index did not show any changes compared to the previous week. The index value stayed at 100.47.
Turkish HDG Index continued to move sideways, with the index value remaining at 98.74.
Turkish CRC Index moved upwards, with the index value rising by 1.5 percent to 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.