In the week from June 20 to June 26 on the Orbis Steel Index, no increases have been observed as compared to the previous week, with sideways movement continuing in most of the indexes.
On the Orbis Steel Index during the week in question, the decline rate increased in the Turkish rebar index which had switched to a downward movement in the previous week. Downward movement has also been observed in the Turkish HRC index after four weeks of sideways movement.
As of June 27, 2011, as per the Orbis Steel Index data, the weekly index movements as per product are as follows:
Turkish Scrap Index remained at 196.95, showing no changes compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index has moved sideways for the third consecutive week. The index value has remained at 207.06.
Turkish Rebar Index decreased by 3.41 percent to 175.6 compared to the previous week.
Turkish HRC Index has started to decrease after four weeks of sideways movement. The index value has dropped by 0.95 percent to 127.24.
Black Sea HRC Index maintained its sideways movement this week, remaining at 133.65.
*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.