In the week from May 3 to May 11, on the Orbis Steel Index the scrap indexes maintained their upward movement. In the given week, the Turkish rebar index increased for the fifth consecutive week, while the Turkish flat rolled indexes mostly moved downwards.
As per the Orbis Steel Index data, the index movements in the week from May 3 to May 11 as per product are as follows:
Turkish Scrap Index maintained its upward movement. The index value increased by 2.36 percent week on week to 112.27.
US (East Coast) HMS I/II Scrap Export Index went up by 2.68 percent to 117.18 compared to the previous week.
Turkish Rebar Index continued to increase, with the index value rising by 1.75 percent week on week to 107.45.
Turkish HRC Index moved downwards in the given week. The index value decreased by 2.09 percent week on week to 76.02.
Black Sea HRC Export Index continued to move sideways, with the index value staying at 69.43.
Turkish HDG Index has not shown any changes compared to the previous week. The index value remained at 80.13.
Turkish CRC Index moved downwards in the given week. The index value decreased by 1.69 percent week on week to 79.79.
*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.