Turkish, European and US steel scrap prices are all showing the same upward trend of bouncing back by almost 10% from the bottom.
Mr Prasad Baji of Edelweiss Securities Limited wrote in a note that “This is surprising since we are entering a seasonally slow period in Middle East due to Ramadan holidays from August 11th to September 9th and in Europe in August but indicates that intrinsic demand has strength.”
Mr Baji added that “We believe the seasonal slowness of August and September could cause some renewed pressure but we may have seen the bottom of scrap prices.”
He also said that “In comparison iron ore prices are yet to bottom out considering that production is only now slowing down in China and has some downside risks since we could see some more production cuts in China.”
www.steelprices-middleesat.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
1. Benchmark products in each category with fixed commonly used sizes and grades
2. Average transaction levels which have settled well, based on continuous interactions with domestic mills, service centers, stockiest, traders and buyers
4. On fixed market oriented payment terms
5. Daily updates
6. Data available since July 2008
5. Access through web site
Products covered
1. Long Products
2. Flat Products
3. FOB levels for export FOB Black Sea, China, Turkey and India
Other features
The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available.
In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data.
Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news.
Subscription charges for 12 month period
| Currency | Single | 2-5 | 6-12 | 13-25 | 26-40 | 40-60 |
| In USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
How to subscribe
How to subscribe
1. Register at www.steelprices-middleeast.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-middleeast.com
(Sourced from www.steelprices-middleeast.com)
