In the week from May 1 to May 7, on the Orbis Steel Index the scrap indexes maintained their upward movement, the Turkish rebar index increased again, while the Turkish flat rolled indexes continued to indicate downward or sideways movement.
As per the Orbis Steel Index data, the index movements in the week from May 1 to May 7 as per product are as follows:
Turkish Scrap Index maintained its upward movement. The index value increased by 1.98 percent to 109.8 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index moved upwards, with the index value rising by 1.19 percent week on week to 121.18.
Turkish Rebar Index continued its upward trend, with the index value increasing by 3.65 percent week on week to 107.37.
Turkish HRC Index declined by 1.42 percent to 79.82 compared to the previous week.
Black Sea HRC Export Index moved downwards in the given week, with the index value falling 2.13 percent to 87.45 compared to the previous week.
Turkish HDG Index decreased by 2.69 percent to 91.48 compared to the previous week.
Turkish CRC Index did not show any changes in the given week. The index value remained at 89.04.
*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.