In the week from May 27 to June 2, the Turkish scrap index moved downwards, while the US (East Coast) HMS I/II scrap export index switched to sideways movement on the Orbis Steel Index. In the given week, the Turkish rebar index continued to decrease, while the Turkish flat rolled product indexes started to move downwards after several weeks of sideways movement.
As per the Orbis Steel Index data, the index movements in the week from May 27 to June 2 as per product are as follows:
Turkish Scrap Index moved downwards, decreasing by 0.52 percent to 152.67 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement, with the index value remaining at 152.94.
Turkish Rebar Index decreased by 0.54 percent to 141.48 compared to the previous week.
Turkish HRC Index started to decrease, with the index value falling 2.44 percent week on week to 97.56.
Black Sea HRC Export Index moved downwards. The index value decreased by 3.75 percent week on week to 97.16.
Turkish HDG Index started to decrease after six weeks of sideways movement. The index value fell 2.45 percent to 100.32.
Turkish CRC Index moved downwards in the given week. The index value decreased by 0.33 percent to 103.08.
*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