In the week from June 10 to June 16, on the Orbis Steel Index the Turkish scrap index started to move upwards, while the US (East Coast) HMS I/II scrap export index continued to decrease. In the given week, the Turkish rebar index switched back to downward movement, while the Turkish flat rolled product indexes started to decline as well.
As per the Orbis Steel Index data, the index movements in the week from June 10 to June 16 as per product are as follows:
Turkish Scrap Index moved upwards, with the index value rising by 0.21 percent week on week to 147.03.
US (East Coast) HMS I/II Scrap Export Index decreased by 0.32 percent to 147.06 compared to the previous week.
Turkish Rebar Index declined in the given week, with the index value falling 0.23 percent week on week to 141.27.
Turkish HRC Index moved downwards, with the index value decreasing by 0.83 percent to 96.75.
Black Sea HRC Export Index started to move downwards in the week in question. The index value decreased by 0.98 percent week on week to 97.16.
Turkish HDG Index decreased by 0.32 percent to 100 compared to the previous week.
Turkish CRC Index maintained its downward movement. The index value decreased by 0.33 percent to 102.4 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