On the Orbis Steel Index in the week from April 11 to April 17, neutral movement was witnessed in the US scrap export and Turkish HRC index values, while the Turkish scrap and Turkish rebar index values recorded slight decreases.
As of April 18, 2011, as per the Orbis Steel Index data, weekly index movements as per product are as follows:
Turkish Scrap Index has seen a 0.35 percent week-on-week decrease, with the index value down to 182.97.
US (East Coast) HMS I/II Scrap Export Index has not seen any change compared to the previous week, remaining at 194.12 for the third consecutive week.
Turkish Rebar Index has dropped by 1.08 percent to 156.11 compared to the previous week.
Turkish HRC Index has seen a neutral movement in the given week, with the index value remaining at 121.14.
Black Sea HRC Index has dropped by 2.51 percent in the week in question, with the index value declining to 128.44.
*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.