Middle East Steel Prices remain unchanged during last week.
| Class | 09-Jul | 16-Jul | Change |
| MLPPI | 3802 | 3802 | 0 |
| MFPPI | 5194 | 5194 | 0 |
| MEASPI | 4224 | 4224 | 0 |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Flat Product Price Index
MEASPI - Middle East Steel Price Index
Long products
A. Rebar
Rebar market continues to remains firm within UAE over the last few months. Currently retail prices are prevailing at AED 1,900 per tonne to AED 2,000 per tonne (USD 517 per tonne to USD 544 per tonne).
However with Ramadan on the anvil demand is expected to ebb gradually by at least 15% from current levels of 200,000 tonnes per month to 250,000 tonnes per month.
Turkish material is being offered at USD 460 per tonne to USD 470 per tonne CFR UAE port, which is not finding many takers due to cheaper material available local mills.
B. Structural Steel
Stockiest are have hiked offers of structurals and merchant bars by AED 100 per tonne to AED 200 per tonne (USD 27 per tonne to USD 54 per tonne) during last one month. Currently merchant bar retail price is prevailing at AED 2,100 per tonne to AED 2,300 per tonne (USD572 per tonne to USD 626 per tonne), while structural steel is going at AED 2,200 per tonne to AED 2,400 per tonne (USD 599 per tonne to USD 653 per tonne)
Flat Products
A. Saudi Arabia:
Augmented demand coupled with supply shortage has sent the flat rolled steel prices in a tizzy in Saudi Arabia. Although mills have been slow to react the trader and stockiest are making feast with bloated margins. Hadeed prices are as follows
HRC
EXW - SAR 2,100 per tonne to SAR 2,130 per tonne (USD 561 to USD)
Retail - SAR 2,900 per tonne (USD 775 per tonne)
HDG
EXW - SAR 2,620 per tonne to SAR 2,695 per tonne (USD 700 to USD 720)
Retail - SAR 3,900 per tonne (USD 1,042)
Analysts opine that demand continue to be good till August end, any estimate about the last quarter would be far fetched.
B. UAE
The demand for flat rolled steel has waned in the last couple of weeks and is expected to taper off by Ramadan. Although shortages of some products continue to keep the prices stable for the time being.
HRC from CIS countries is being offered at USD 540 per tonne to USD 560 pmt CFR, unchanged since last week. With most of the mills booked till late September import offers will continue to be firm.
HDG from India in commercial grade with 0.5mm CR substrate was being offered at USD 700 per tonne to USD 710 per tonne CFR UAE, similar to last week’s USD 700 per tonne CFR. Korea was asking USD 800 per tonne for commercial grade HDG last week, but now its price is USD 725 per tonne to USD 730 per tonne on CFR basis, mainly because of competitive pricing from India.
The sentiment is of caution at least till the holidays and buyers are averse to big bookings.
Turkey
Turkish rebar export market is slow. Approaching Ramadan holidays dampened the market sentiments with offers expected to decline by 10% to 15% in August. Currently Turkish rebar is being offered at USD 440 per tonne to USD 475 per tonne FOB for Middle East market albeit with scarce booking.
Some market players will resist price reduction owing to inflated scrap prices nonetheless the recent slump in billet offers from CIS by USD 10 pmt will definitely emaciate their negotiating strength.
Export
| 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 | 10 |
Change is on July 17th 2009 as compared to July 10th 2009
Change is in USD per tonne
FOB Main Turkish ports
Import
It is learnt that a prominent Ukrainian steelmaker has offered HRC and CRC at USD 520 per tonne and USD 585 per tonne CFR Turkey, respectively for September shipment.
| Product | Grade | Size mm | Change |
| Scrap | A3 | 500x500x1500 | 0 |
| Billets | 3Sp/Ps | 125x125 | 0 |
| HRC | S235JR | 3-12x1000-1500 | 10 |
| PLTS | S275JR | 10-40x2500-3000 | 10 |
Change is on July 17th 2009 as compared to July 10th 2009
Change is in USD per tonne
The import prospects seems brighter than ever before with a the prices of HR and CR coil in for a song in the domestic market increasing by nearly 7% over last week , whereas HDG prices are around 9% higher over the same period. Both HRC and CRC prices are around USD 120 per tonne higher than four weeks ago. The HDG coil reference price is USD 69 per tonne higher at USD 828 per tonne EXW.
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(Sourced from www.steelprices-middleeast.com)
