In the week from June 6 to June 12, on the Orbis Steel Index, sideway movements have been seen in most of the indexes.
On the Orbis Steel Index during the week in question, Turkish rebar index continued its upward movement, however, a decrease was seen in the growth rate. Black Sea HRC index that moved sideways in the precious week started to increase.
As of June 13, 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 as compared to the previous week. Index value remained at 197.61.
US (East Coast) HMS I/II Scrap Export Index has moved sideways this week after two week of increase. Index value registered at 207.06.
Turkish Rebar Index saw an increase for the eighth consecutive week, rising by 0.4 percent to 184.65 compared to the previous week.
Turkish HRC Index has not seen any changes for the third consecutive week and remained at 128.46.
Black Sea HRC Index has moved upwards this week by 1.26 percent, after the sideways movement in the previous week. The index value increased to 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.