In the week from July 18 to July 24 on the Orbis Steel Index, several index values generally continued the upward trend which they had started in the previous week. In addition, the Black Sea HRC index started to increase in the given week following three weeks of decrease, while the Turkish HRC index went back to a sideways movement after the previous week's increase.
As of July 25, 2011, as per the Orbis Steel Index data, the weekly index movements as per product are as follows:
Turkish Scrap Index again increased compared to the previous week, rising by 0.24 percent to 193.4.
US (East Coast) HMS I/II Scrap Export Index started to increase in the given week, rising by 1.62 percent to 207.06.
Turkish Rebar Index increased to 180.83, up by 0.18 percent week on week.
Turkish HRC Index resumed its sideways movement after the previous week's increase. The index value remained at 124.39.
Black Sea HRC Index increased in the given week, with the index value up by 0.17 percent 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.