In the week from July 4 to July 10 on the Orbis Steel Index, a predominant downward trend continued to be observed. The Turkish scrap index was the only index which indicated sideways movement.
On the Orbis Steel Index during the week in question, the Turkish rebar index maintained its increase with a stronger growth rate compared to the previous week. While the Black Sea HRC index saw a decrease for the second consecutive week, the decline rate decreased compared to the previous week.
As of July 11, 2011, as per the Orbis Steel Index data, the weekly index movements as per product are as follows:
Turkish Scrap Index has not seen any changes compared to the previous week, with the index value remaining at 192.47.
US (East Coast) HMS I/II Scrap Export Index continued to decrease, dropping by 1.03 percent to 203.76.
Turkish Rebar Index increased by 1.33 percent compared to the previous week, rising to 174.94.
Turkish HRC Index has dropped by 0.66 percent to 122.76, marking the third week of decrease.
Black Sea HRC Index decreased by 0.36 percent week on week. The index value has dropped 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.