Middle East Steel Prices fell last week. The Middle East Long Product Price Index MLPPI and Middle East Flat Products Index MFPPI fell by 31 and 62 points respectively. The overall price index MEASPI declined by 40 points.
| Class | 26-Mar | 2-Apr | Change | % |
| MLPPI | 3694 | 3664 | -31 | -0.8% |
| MFPPI | 5562 | 5500 | -62 | -1.1% |
| MEASPI | 4260 | 4220 | -40 | -0.9% |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Flat Product Price Index
MEASPI - Middle East Steel Price Index
Long Products:
| Category | 26-Mar | 02-Apr | Change |
| PI - Rebar | 3280 | 3247 | -34 |
| PI - WRC | 3509 | 3482 | -27 |
| PI - Angle | 4807 | 4761 | -46 |
| PI - Structural | 4878 | 4843 | -35 |
| PI - HEA | 5396 | 5383 | -13 |
PI - Price Index
Flat Products:
| Category | 26-Mar | 02-Apr | Change |
| PI - Narrow Plates | 5435 | 5390 | -45 |
| PI - Wide Plates | 7738 | 7702 | -36 |
| PI - Hot Rolled | 4307 | 4156 | -150 |
| PI - Cold Rolled | 4856 | 4816 | -41 |
| PI - Galvanized | 5178 | 5149 | -30 |
PI - Price Index
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Re bars
An analysis of the domestic price graph lucidly indicates the prices of re bars have been decreasing since January beginning except for a minor correction in 3rd week and continue its sloping gradient ever since. (Ref: STT: Rebar prices continue to weaken in UAE dated April 3rd 2009).
Several leading construction companies in the Middle East are uncertain about the future of their projects. Moreover, they all are sitting on large inventories of Rebar and most of them have procured at relatively at high prices.
Rebars
BS4449 Grade 460 B
| Location | CUR | Change | USD | % |
| Dubai | AED | -20 | -5 | -1.1% |
| Dammam | SAR | 30 | 8 | 1.7% |
| Bahrain | BDR | -10 | -27 | -4.9% |
| Kuwait | KDW | -4 | -15 | -2.7% |
| Qatar | QAR | 0 | 0 | 0.0% |
| Jeddah | SAR | -20 | -5 | -1.1% |
Change is on April 2nd 2009 as compared to March 26th 2009
Change is in USD per tonne
WRC
Likewise WRC prices has exhibited decline by 1% in last week. A major mill went full stream during this period augmenting material availability gravitating prices. (Ref: STT Middle East Steel prices dips under pressure of cheap imports: dated April 1st 2009 ).
Wire rod
SAE 1008
| Location | CUR | Change | USD | % |
| Dubai | AED | -20 | -5 | -1.1% |
| Dammam | SAR | -15 | -4 | -0.7% |
| Bahrain | BDR | -15 | -39 | -6.4% |
| Kuwait | KDW | 0 | 0 | 0.0% |
| Qatar | QAR | 0 | 0 | 0.0% |
| Jeddah | SAR | -15 | -4 | -0.7% |
Change is on April 2nd 2009 as compared to March 26th 2009
Change is in USD per tonne
HRC
The prices continued downward trajectory under pressure of cheap import from Turkey at USD 430 per tonne CNF Middle Eastern port. It is reported that China has entered the fray with offers as low as USD 450 per tonne CNF Middle Eastern port. As a result, stockiest carrying high priced inventory are under pressure to liquidate stocks at competitive rates.
Moreover it is also reported that HRC cargoes destined for China at USD 450 per tonne CNF Main Chinese ports are being diverted from high seas to Middle East and other neighboring regions due to sudden slump in demand within China. This is likely to commence downward spiral for HRC price. (Ref: STT Middle East Steel prices dip under pressure of cheap imports: dated April 1st 2009).
Plates
3x12
S275 JR
| Location | CUR | Change | USD | % |
| Dubai | AED | -25 | -7 | -0.6% |
| Dammam | SAR | -20 | -5 | -0.4% |
| Bahrain | BDR | -10 | -26 | -2.1% |
| Kuwait | KDW | -2 | -7 | -0.6% |
| Jeddah | SAR | -20 | -5 | -0.4% |
Change is on April 2nd 2009 as compared to March 26th 2009
Change is in USD per tonne
Turkish steel mills, which are the major supplier to MEA, maintained their FOB offers.
| Product | Grade | Size mm | Change |
| Billets | SAE 1008 | 125 x 125 | -10 |
| Rebars | BSt500 | 8 to 32 | 0 |
| Wire Rod | SAE 1008 | 5,5 to 16 | 0 |
Change is on April 2nd 2009 as compared to March 26th 2009
In USD per tonne
On the other hand import offers CNF Turkey also saw correction last week in billets.
| Product | Grade | Size mm | Change |
| Scrap | A3 | 500x500x1500 | 5 |
| Billets | 3Sp/Ps | 125x125 | -10 |
| HRC | S235JR | 3-12x1000-1500 | -10 |
| PLTS | S275JR | 10-40x2500-3000 | -10 |
Change is on April 2nd 2009 as compared to March 26th 2009
In USD per tonne
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(Sourced from www.steelprices-middleeast.com)
