In the week from April 29 to May 5, the scrap indexes continued to decrease on the Orbis Steel Index. In the given week, the Turkish rebar index started to decrease following two weeks of upward movement. The flat rolled product indexes showed both downward and sideways movement, while no upward movement was seen on the Orbis Steel Index in the week in question.
As per the Orbis Steel Index data, the index movements in the week from April 29 to May 5 as per product are as follows:
Turkish Scrap Index continued to decline, with the index value falling by 2.32 percent to 157.64 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index decreased by 1.44 percent week on week to 101.18.
Turkish Rebar Index moved downwards in the given week. The index value fell 1.29 percent week on week to 144.51.
Turkish HRC Index started to decrease, with the index value falling 1.6 percent to 100.
Black Sea HRC Export Index decreased for the fifth consecutive week. The index value declined by 1.84 percent to 101.18 compared to the previous week.
Turkish HDG Index maintained its sideways movement in the week in question, with the index value remaining at 102.84.
Turkish CRC Index switched to downwards movement, with the index value decreasing by 0.66 percent week on week to 103.42.
*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
