In the week from May 28 to June 3, the scrap indexes continued to decrease on the Orbis Steel Index, with the US (East Coast) HMS I/II scrap export index declining by over five percent. In the given week, the Black Sea HRC index maintained sideways movement, while all the other flat rolled products continued to register declines. Meanwhile, the Turkish rebar index decreased in the week in question, marking the fourth consecutive week of downward movement.
As per the Orbis Steel Index data, the index movements in the week from May 28 to June 3 as per product are as follows:
Turkish Scrap Index continued to decrease in the given week. The index value fell 2.62 percent to 176.46 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 5.03 percent week on week to 177.65.
Turkish Rebar Index maintained downward movement in the week in question. The index value decreased by 2.25 week on week to 153.88.
Turkish HRC Index continued to decrease in the given week, with the index value declining by 2.95 percent week on week to 106.91.
Black Sea HRC Export Index moved sideways again, with the index value staying at 110.43.
Turkish HDG Index decreased by 0.32 percent to 99.68 compared to the previous week.
Turkish CRC Index dropped by 1.93 percent to 104.79 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