The index values on the Orbis Steel Index, which had displayed a downward trend for almost all products in the previous week, recorded a slighter downward movement in the week from April 4 to April 10, 2011.
As of April 11, 2011, as per the Orbis Steel Index data, weekly index movements as per product are as follows:
Turkey Scrap Index has seen a 0.17 percent week-on-week decrease, with the index value down to 183.62.
US (East Coast) HMS I/II Scrap Export Index has not seen any change compared to the previous week, remaining at 194.12.
Turkish Rebar Index has dropped by 1.69 percent to 157.81 compared to the previous week.
Turkish HRC Index has dropped by 0.66 percent in the given week, with the index value down to 121.14 this week.
Black Sea HRC Index has dropped by 2.12 percent in the week in question, with the index value declining to 131.75.
*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.