In the week from March 14 to March 20, 2011, most products on the Orbis Steel Index indicated sideways movement. As of March 21, 2011, as per the Orbis Steel Index data, weekly index movements as per product are as follows:
Turkey Scrap Index has seen a 0.08 percent week-on-week decrease, with the index value down to 187.5.
US (East Coast) HMS I/II Scrap Export Index has not changed compared to the previous week, with the index value still at 201.18.
Turkish Rebar Index went up by 0.34 percent to 160.59 in the week in question, maintaining the rising trend registered in the previous week.
Turkish HRC Index has followed a neutral trend in the given week, with the index value remaining at 128.46 for the fifth week in a row.
Black Sea HRC Index dropped by 1.1 percent in the week in question, with the index value declining to 139.81.
*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.