With the international prices running amok the current frenzy has caused ripples in the hitherto calm gulf waters. Although offers are flying high and fast touching hysterical levels transactions are prudent and selective.
The buying is more trader to trader rather than trader to end user indicative of speculation. The buying is need based with buyers not ready to commit volumes in excess of immediate requirement as they have vivid memories of the aftermath of 2008.
The long product market has certainly given some reasons to cheer with a climb down of nearly USD 50 per tonne to USD 60 per tonne. Scrap and billet prices have fallen in equal measures touching USD 460 per tonne and USD 690 per tonne to USD 710 per tonne CNF. Similarly rebar prices have come down to USD 710 per tonne to USD 715 per tonne, which had touched USD 750 per tonne.
On the other hand flat product flag keeps fluttering with the following offers
1. HRC - USD 770 per tonne to USD 780 per tonne CNF
2. Plates - USD 800 per tonne CNF
The market is waiting with baited breathe release of the position cargo and movements after the Chinese Spring Festival to crystallize a trend.
The Middle East Long Product Price Index MLPPI inclined by 174 points last week whereas the Middle East Flat Products Index MFPPI also went up by 43 points. The overall price index Middle East MEASPI inclined by 135 points.
| Class | 20-Jan | 27-Jan | Change | % |
| MLPPI | 5162 | 5336 | 174 | 3.4% |
| MFPPI | 6232 | 6275 | 43 | 0.7% |
| MEASPI | 5486 | 5621 | 135 | 2.5% |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Flat Product Price Index
MEASPI - Middle East Steel Price Index
Long products
| Category | 20-Jan | 27-Jan | Change | % |
| PI - Rebar | 5051 | 5224 | 174 | 3.4% |
| PI - WRC | 4990 | 5165 | 175 | 3.5% |
| PI - Angle | 5893 | 6255 | 363 | 6.2% |
| PI - Structural | 5477 | 5559 | 82 | 1.5% |
| PI - HEA | 6010 | 6088 | 78 | 1.3% |
PI - Product Index
Flat products
| Category | 20-Jan | 27-Jan | Change | % |
| PI - Narrow Plates | 5577 | 5578 | 1 | 0.0% |
| PI - Wide Plates | 6867 | 6867 | 0 | 0.0% |
| PI - Hot Rolled | 5736 | 5834 | 98 | 1.7% |
| PI - Cold Rolled | 5959 | 6135 | 176 | 2.9% |
| PI - Galvanized | 6882 | 6882 | 0 | 0.0% |
PI - Product Index
W Section
A36/S275JR
| Location | CUR | Change | USD |
| Bahrain | BHD | 5 | 14 |
| Dammam | SAR | 40 | 11 |
| Dubai | AED | 50 | 14 |
| Jeddah | SAR | 40 | 11 |
| Kuwait | KWD | 0 | 0 |
| Qatar | QAR | 50 | 14 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
Angles
A36/S275JR
| Location | CUR | Change | USD |
| Bahrain | BHD | 12 | 32 |
| Dammam | SAR | 150 | 40 |
| Dubai | AED | 250 | 68 |
| Jeddah | SAR | 150 | 40 |
| Kuwait | KWD | 3 | 12 |
| Qatar | QAR | 250 | 69 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
Channels
A36/S275JR
| Location | CUR | Change | USD |
| Bahrain | BHD | 5 | 14 |
| Dammam | SAR | 50 | 13 |
| Dubai | AED | 50 | 14 |
| Jeddah | SAR | 50 | 13 |
| Kuwait | KWD | 2 | 8 |
| Qatar | QAR | 50 | 14 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
Rebars
BS4449 Grade 460B
| Location | CUR | Change | USD |
| Bahrain | BDR | 0 | 0 |
| Dammam | SAR | 100 | 27 |
| Dubai | AED | 100 | 27 |
| Jeddah | SAR | 100 | 27 |
| Kuwait | KDW | 2 | 8 |
| Qatar | QAR | 100 | 27 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
Wire Rod
SAE 1008
| Location | CUR | Change | USD |
| Bahrain | BDR | 10 | 26 |
| Dammam | SAR | 100 | 27 |
| Dubai | AED | 100 | 27 |
| Jeddah | SAR | 100 | 27 |
| Kuwait | KDW | 2 | 7 |
| Qatar | QAR | 100 | 27 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
Plates 3x12
S275 JR
| Location | CUR | Change | USD |
| Bahrain | BDR | 0 | 0 |
| Dammam | SAR | 0 | 0 |
| Dubai | AED | 0 | 0 |
| Jeddah | SAR | 0 | 0 |
| Kuwait | KDW | 0 | 0 |
| Qatar | QAR | 0 | 0 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
HRC
| Location | CUR | Change | USD |
| Bahrain | BDR | 44 | 116 |
| Dammam | SAR | 50 | 13 |
| Dubai | AED | 50 | 14 |
| Jeddah | SAR | 50 | 13 |
| Kuwait | KDW | 2 | 7 |
| Qatar | QAR | 50 | 14 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
HDG
0.7
| Location | CUR | Change | USD |
| Bahrain | BDR | 0 | 0 |
| Dammam | SAR | 0 | 0 |
| Dubai | AED | 0 | 0 |
| Jeddah | SAR | 0 | 0 |
| Kuwait | KDW | 0 | 0 |
| Qatar | QAR | 0 | 0 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
CR
| Location | CUR | Change | USD |
| Bahrain | BDR | 0 | 0 |
| Dammam | SAR | 100 | 27 |
| Dubai | AED | 100 | 27 |
| Jeddah | SAR | 100 | 27 |
| Kuwait | KDW | 0 | 0 |
| Qatar | QAR | 100 | 27 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
IPE
14-16-18
| Location | CUR | Change | USD |
| Bahrain | BDR | 5 | 13 |
| Dammam | SAR | 50 | 13 |
| Dubai | AED | 50 | 14 |
| Jeddah | SAR | 50 | 13 |
| Kuwait | KDW | 2 | 7 |
| Qatar | QAR | 50 | 14 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
Structural
| Location | CUR | Change | USD |
| Bahrain | BDR | 5 | 13 |
| Dammam | SAR | 50 | 13 |
| Dubai | AED | 30 | 8 |
| Jeddah | SAR | 50 | 13 |
| Kuwait | KDW | 1 | 4 |
| Qatar | QAR | 30 | 8 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
HEA
| Location | CUR | Change | USD |
| Bahrain | BDR | 4 | 11 |
| Dammam | SAR | 50 | 13 |
| Dubai | AED | 30 | 8 |
| Jeddah | SAR | 50 | 13 |
| Kuwait | KDW | 2 | 7 |
| Qatar | QAR | 30 | 8 |
Change is on Jan 27th as compared to Jan 20th 2010
Change is per tonne
www.steelprices-middleeast.com is a comprehensive service for tracking real time domestic steel prices and trends in Middle East.
The scope of service includes
1. Domestic pricing information in UAE, Saudi Arab, Qatar, Kuwait and Bahrain
2. Export levels from Turkey, Rotterdam, China, India and Black Sea
The service is specifically designed to assist steel makers, traders, users and others connected with the industry to keep track of real time prices prevailing in the market and thus comprehensively evaluate steel pricing trends in the trend setting region
Methodology and access
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