In the week from May 15 to May 21, on the Orbis Steel Index the Turkish scrap index continued to move upwards, the US (East Coast) HMS I/II scrap export index declined, the Turkish rebar index continued to increase, while the Turkish flat rolled indexes were characterized by diverse trends.
As per the Orbis Steel Index data, the index movements in the week from May 15 to May 21 as per product are as follows:
Turkish Scrap Index increased by 0.26 percent week on week to 110.13.
US (East Coast) HMS I/II Scrap Export Index moved downwards, with the index value declining by 0.19 percent week on week to 121.18.
Turkish Rebar Index moved upwards in the given week, with the index value increasing by 0.64 percent week on week to 111.76.
Turkish HRC Index switched to upward movement in the given week. The index value rose by 1.76 percent to 79.66 compared to the previous week.
Black Sea HRC Export Index started to increase, with the index value rising by 2.26 percent week on week to 85.55.
Turkish HDG Index moved downwards, with the index value declining by 2.75 percent week on week to 88.96.
Turkish CRC Index did not show any changes compared to the previous week. The index value remained at 89.04.
*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.