The Orbis Steel index has generally continued to demonstrate a mostly rising trend in the week covering January 10-16, 2011.
In the week in question, although the index no longer rose rapidly as in the previous two weeks, various index values continued to increase. In particular, the scrap index values recorded significant slowdowns in their rising trends throughout the week.
As of January 17, 2011, the Orbis Steel Index values are summarized as follows:
US (East Coast) HMS I/II scrap export index - no change, standing at the level of 223.50
Turkish Scrap Index - a weekly increase of 1.67 percent to reach today's value of 206.86
Turkish Rebar Index - a weekly increase of 3.09 percent to reach today's value of 172.08
Turkish HRC Index - a weekly increase of 4.67 percent to reach today's value of 127.64
China HRC export index - a weekly increase of 1.53 percent to reach today's value of 115.79
*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.