In the week from June 2 to June 8, on the Orbis Steel Index the scrap indexes continued to move downwards. In the given week, the Turkish rebar index started to decrease again, after a slight increase in the previous week. The Turkish flat rolled indexes maintained their sideways movement.
As per the Orbis Steel Index data, the index movements in the week from June 2 to June 8 as per product are as follows:
Turkish Scrap Index decreased by 0.48 percent week on week to 149.09.
US (East Coast) HMS I/II Scrap Export Index continued to move downwards, with the index value falling 0.89 percent week on week to 157.65.
Turkish Rebar Index switched to downward movement in the week in question. The index value decreased by 0.92 percent to 130.93 compared to the previous week.
Turkish HRC Index continued to move sideways. The index value stayed at 98.37.
Black Sea HRC Export Index followed a stable trend, with the index value remaining at 101.66.
Turkish HDG Index maintained sideways movement. The index value stayed at 99.37.
Turkish CRC Index moved sideways, with the index value remaining at 95.89.
*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.