In the week from May 21 to May 27, the scrap indexes maintained downward movement on the Orbis Steel Index. In the given week, the Black Sea HRC index switched to sideways movement, while all the other flat rolled products registered declines. On the other hand, the Turkish rebar index decreased in the given week, marking the third consecutive week of downward movement.
As per the Orbis Steel Index data, the index movements in the week from May 21 to May 27 as per product are as follows:
Turkish Scrap Index decreased by 1.87 percent to 181.21 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index continued to decrease in the given week. The index value dropped by 2.45 percent week on week to 187.06.
Turkish Rebar Index moved downwards in the given week. The index value declined by 0.49 week on week to 157.42.
Turkish HRC Index started to decrease in the week in question, falling by 2.52 percent week on week to 110.16.
Black Sea HRC Export Index has not shown any changes compared to the previous week. The index value stayed at 110.43.
Turkish HDG Index continued to decrease in the given week. The index value declined by 0.94 percent to 100 compared to the previous week.
Turkish CRC Index moved downwards this week. The index value decreased by 1.27 percent week on week to 106.85.
*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