After a long period of lull, signs of patience running out among stockiest appeared last week in Middle East as the prices of benchmark product rebars surged by 7%.
The increased of USD 41 per tonne in prices of rebar was seen in Bahrain followed by USD 12 per tonne in Kuwait. Prices also increased in UAE and Saudi Arabia. However domestic prices of rebar remained stable in Qatar.
The Middle East Long Product Price Index MLPPI increased by 73 points whereas the Middle East Flat Products Index MFPPI up by 75 points. The overall price index Middle East MEASPI up by 74 points.
| Class | 04-Feb | 11-Feb | Change | % |
| MLPPI | 3852 | 3925 | 73 | 1.9% |
| MFPPI | 5272 | 5347 | 75 | 1.4% |
| MEASPI | 4282 | 4356 | 74 | 1.7% |
MLPPI – Middle East Long Product Price Index
MFPPI – Middle East Flat Product Price Index
MEASPI – Middle East Steel Price Index
Long products
| Category | 04-Feb | 11-Feb | Change | % |
| PI - Rebar | 3571 | 3652 | 82 | 2.3% |
| PI - WRC | 3659 | 3696 | 37 | 1.0% |
| PI - Angle | 4724 | 4970 | 246 | 5.2% |
| PI - Structural | 4813 | 4972 | 159 | 3.3% |
| PI - HEA | 5183 | 5183 | 0 | 0.0% |
PI – Product Index
Flat products
| Category | 04-Feb | 11-Feb | Change | % |
| PI - Narrow Plates | 4733 | 4734 | 0 | 0.0% |
| PI - Wide Plates | 6586 | 6587 | 1 | 0.0% |
| PI - Hot Rolled | 4629 | 4630 | 1 | 0.0% |
| PI - Cold Rolled | 4890 | 5066 | 176 | 3.6% |
| PI - Galvanized | 5351 | 5588 | 238 | 4.4% |
PI – Product Index
Rebars
| Location | CUR | Change | USD | % |
| Bahrain | BDR | 15 | 41 | 7.0% |
| Dammam | SAR | 50 | 13 | 2.5% |
| Dubai | AED | 50 | 14 | 2.5% |
| Jeddah | SAR | 60 | 16 | 3.0% |
| Kuwait | KDW | 3 | 12 | 1.8% |
| Qatar | QAR | 0 | 0 | 0.0% |
Change is on February 11th 2010 as compared to February 4th 2010
Change is per tonne
Wire rod
SAE 1008
| Location | CUR | Change | USD | % |
| Bahrain | BDR | 0 | 0 | 0.0% |
| Dammam | SAR | 0 | 0 | 0.0% |
| Dubai | AED | 75 | 20 | 3.8% |
| Jeddah | SAR | 0 | 0 | 0.0% |
| Kuwait | KDW | 14 | 52 | 8.9% |
| Qatar | QAR | 0 | 0 | 0.0% |
Change is on February 11th 2010 as compared to February 4th 2010
Change is per tonne
It is also reported that old cargoes of imported rebars are being exported to neighboring countries including India at throwaway prices as Dubai contractors are not willing to use rusted rebars. The prices are reported to be USD 500 per tonne to USD 520 per tonne CFR Mumbai.
FOB Turkey (For Exports)
| Product | Grade | Size mm | Change |
| Billets | SAE 1008 | 125 x 125 | 0 |
| Rebars | BSt500 | 8 to 32 | -10 |
| Wire Rod | SAE 1008 | 5.5 to 16 | -5 |
Change is on February 12th 2010 as compared to February 5th 2010
In USD per tonne
CNF Turkey (For imports)
| Product | Grade | Size mm | Change |
| Scrap | A3 | 500x500x1500 | 5 |
| Billets | 3Sp/Ps | 125x125 | 5 |
| HRC | S235JR | 3-12x1000-1500 | 10 |
| PLTS | S275JR | 10-40x2500-3000 | 0 |
Change is on February 12th 2010 as compared to February 5th 2010
In USD per tonne
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(Sourced from www.steelprices-middleeast.com)
