The Orbis Steel index has entered the first week of 2011 with majority of the products following an uptrend.
In the first Monday of the year, when we look at the index values we see that the steel markets closed the year 2010 by maintaining their upward direction.
As of January 3, 2011, the Orbis Steel Index values as of the 52nd week of 2010 are summarized herewith below:
US (East Coast) HMS I/II scrap export index a weekly increase by %4.70 to reach today's value of 209.41
Turkish Scrap Index a weekly increase by %3.73 to reach today's value of 193.98
Turkish Rebar Index a weekly increase by %1.69 to reach today's value of 161.46
Turkish HRC Index a weekly increase by %2.11 to reach today's value of 117.06
China HRC export index a weekly increase by 0.79% to reach today's value of 111.40
*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 the merchants both in domestic markets on ex-warehouse basis and for exports on FOB Turkey basis.
01.01.2005 value is 100.