In the week from May 12 to May 18, on the Orbis Steel Index the Turkish scrap index continued to decline, while the US (East Coast) HMS I/II scrap export index switched to sideways movement. In the given week, the Turkish rebar index moved downwards for the fourth 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 12 to May 18 as per product are as follows:
Turkish Scrap Index maintained its downward movement. The index value declined by 0.17 percent week on week to 150.31.
US (East Coast) HMS I/II Scrap Export Index switched to sideways movement, with the index value remaining at 160.
Turkish Rebar Index moved downwards, with the index value falling 0.06 percent to 131.98 compared to the previous week.
Turkish HRC Index continued to move sideways, with the index value staying at 98.37.
Black Sea HRC Export Index started to move upwards in the given week. The index value increased by 1.18 percent to 101.66 compared to the previous week.
Turkish HDG Index increased by 0.64 percent week on week to 99.37.
Turkish CRC Index has not shown any changes compared to the previous week, with the index value staying at 95.89.
*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.