In the week from June 27 to July 3 on the Orbis Steel Index, a predominantly downward trend was observed, with the only increase seen in the Turkish rebar index.
On the Orbis Steel Index during the week in question, the US (East Coast) HMS I/II scrap export index switched to a downward movement after three weeks of trending sideways. The Turkish hot rolled coil (HRC) index maintained its decline with a stronger decrease rate compared to the previous week.
As of July 4, 2011, as per the Orbis Steel Index data, the weekly index movements as per product are as follows:
Turkish Scrap Index decreased by 1.62 percent compared to the previous week to 193.76.
US (East Coast) HMS I/II Scrap Export Index has started to decrease after three weeks of sideways movement. The index value has dropped by 0.57 percent to 205.88.
Turkish Rebar Index increased slightly by 0.64 percent compared to the previous week, rising to 176.73.
Turkish HRC Index maintained the decrease which started in the prior week. The index value has dropped by 2.88 percent to 123.58.
Black Sea HRC Index abandoned its sideways movement in the week in question, decreasing by 1.06 percent week on week. The index value has dropped to 132.23.
*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.