In the week from June 18 to June 24, on the Orbis Steel Index the Turkish scrap index increased after five weeks of downward movement, while the US (East Coast) HMS I/II scrap export index switched to sideways movement. In the given week, the Turkish rebar index started to increase after declining for six consecutive weeks. The Turkish HRC index was the only flat rolled product that indicated an increase for the given week.
As per the Orbis Steel Index data, the index movements in the week from June 18 to June 24 as per product are as follows:
Turkish Scrap Index started to increase in the week in question. The index rose by 0.4 percent week on week to 159.65.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement. The index value remained at 163.53.
Turkish Rebar Index started to move upwards in the given week. The index value increased by 0.82 percent week on week to 150.54.
Turkish HRC Index increased by 3.17 percent to 105.69 compared to the previous week.
Black Sea HRC Export Index continued to decrease in the week in question. The index value dropped by 0.45 percent to 104.98.
Turkish HDG Index switched to sideways movement this week. The index value stayed at 96.53.
Turkish CRC Index has not shown any changes compared to the previous week. The index value remained at 102.74.
*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