In the week from June 13 to June 19, 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, after the increase of eight consecutive weeks, Turkish rebar index decreased. Black Sea HRC index that moved upward in the previous week showed sideways movement this week. No changes have been observed on Turkish HRC index for the fourth consecutive week.
As of June 20, 2011, as per the Orbis Steel Index data, the weekly index movements as per product are as follows:
Turkish Scrap Index decreased by 0.33 percent as compared to the previous week. Index value dropped to 196.95.
US (East Coast) HMS I/II Scrap Export Index has moved sideways this week again. Index value remained at 207.06.
Turkish Rebar Index started to decrease this week after an increase of eight consecutive weeks, dropping by 1.55 percent to 181.79 compared to the previous week.
Turkish HRC Index has not seen any changes for the fourth consecutive week and remained at 128.46.
Black Sea HRC Index has moved sideways after the increase in the previous week. The index value remained 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.