Scrap declines on Orbis Steel Index

Monday, 05 June 2017 17:17:53 (GMT+3)   |   Istanbul
       

In the week from May 29 to June 4, on the Orbis Steel Index the scrap indexes moved downwards, the Turkish rebar index declined, while the Turkish flat rolled indexes were characterized by diverse trends.
 
As per the Orbis Steel Index data, the index movements in the week from May 29 to June 4 as per product are as follows:
 
Turkish Scrap Index continued to decline. The index value decreased by 0.37 percent week on week to 109.53.
 
US (East Coast) HMS I/II Scrap Export Index declined by 1.16 percent to 120 compared to the previous week.
    
Turkish Rebar Index switched to downward movement, with the index value decreasing by 0.69 percent week on week to 111.63.
 
Turkish HRC Index started to decrease. The index value fell by 0.31 percent week on week to 79.41.   
 
Black Sea HRC Export Index remained unchanged at 85.55. 
 
Turkish HDG Index increased by 1.42 percent to 90.22 compared to the previous week.
 
Turkish CRC Index did not show any change week on week, with the index value remaining 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.

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