In the week from May 19 to May 25, on the Orbis Steel Index the Turkish scrap index moved down slightly, while the US (East Coast) HMS I/II scrap export index maintained its sideways movement. In the given week, the Turkish rebar index continued to move on a very slight downtrend, while the Turkish flat rolled indexes have not shown any changes compared to the previous week.
As per the Orbis cIndex data, the index movements in the week from May 19 to May 25 as per product are as follows:
Turkish Scrap Index decreased by 0.26 percent to 149.92 compared to the previous week.
US (East Coast) HMS I/II Scrap Export Index maintained its sideways movement, with the index value staying at 160.
Turkish Rebar Index continued to decline, with the index value falling 0.08 percent week on week to 131.87.
Turkish HRC Index has not shown any significant changes compared to the previous week. The index value remained at 98.37.
Black Sea HRC Export Index switched to sideways movement in the given week. The index value stayed at 101.66.
Turkish HDG Index moved sideways, with the index value staying at 99.37.
Turkish CRC Index followed a stable trend. The index value remained 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.
