In the week from May 18 to May 24, on the Orbis Steel Index the scrap indexes started to move downwards. In the given week, the Turkish rebar index increased for the seventh consecutive week, while the Turkish flat rolled indexes mostly moved sideways.
As per the Orbis Steel Index data, the index movements in the week from May 18 to May 24 as per product are as follows:
Turkish Scrap Index decreased by 0.38 percent week on week to 113.93.
US (East Coast) HMS I/II Scrap Export Index moved downwards in the given week, with the index value falling 1.18 percent to 118.12 compared to the previous week.
Turkish Rebar Index continued to move upwards. The index value increased by 0.86 percent week on week to 109.15.
Turkish HRC Index maintained its sideways movement, with the index value remaining at 76.02.
Black Sea HRC Export Index increased by 0.67 percent to 70.38 compared to the previous week.
Turkish HDG Index continued to move sideways, with the index value staying at 80.13.
Turkish CRC Index moved downwards in the given week. The index value decreased by 1.72 percent week on week to 78.42.
*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.