After massive change in the previous week, steel pries in MEA remained unchanged last week although import rebar offer levels to Middle East has shown small gain during last week owing to improvement in scrap prices and demand from reroller.
| Class | 05-Nov | 12-Nov | Change | %
|
| MLPPI | 3600 | 3600 | 0 | 0.0%
|
| MFPPI | 5061 | 5061 | 0 | 0.0%
|
| MEASPI | 4042 | 4042 | 0 | 0.0% |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Flat Product Price Index
MEASPI - Middle East Steel Price Index
Scrap prices have firmed up by USD 20 per tonne touching USD 280 per tonne CNF Turkish port as buying from the Turkish mills picked up in the last 10 days. Turkish mills hitherto were out of market for 2 month post Ramadan as there was negligible demand in this region for their product. However with the gradual depletion of stocks some buying to maintain operations albeit at sub optimal level became inevitable.
The UAE market has undergone bit of metamorphosis in their purchasing pattern to rationalize cost in this extremely trying times. The local re rollers have switched over to buying more of re-bars over billets as their prices have reached parity.
Moreover Turkish mills have been offering customized packages in with their markings which the re rollers are able to sell under their name locally. The current offer levels are prevailing around USD 460 per tonne to USD 470 per tonne CNF an improvement of USD 5 per tonne over last week.
Locally re bars are available at AED 1800 per tonne plus 5% tax plus freight delivered to customer yard on 120 days to 180 days credit terms. In real terms, rebar prices in Dubai have dipped by AED 50 per tonne during the week.
It needs no emphasis that there is utter lack of activity in all the core consuming segments in Middle East which according to experts is expected to continue till the end of 4th quarter. Any price revival would be short term and scrap centric and crumbling under its own weight when the mills margins are squeezed kindling frenzy selling.
Turkey Export Prices went up a bit on Ukrainian and scrap cue
| 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 |
Turkish import levels also increased a bit last week
| Product | Grade | Size mm | Change
|
| Scrap | A3 | 500x500x1500 | 10
|
| Billets | 3Sp/Ps | 125x125 | 10
|
| HRC | S235JR | 3-12x1000-1500 | 10
|
| PLTS | S275JR | 10-40x2500-3000 | 0 |
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To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
(Sourced from www.steelprices-middleeast.com)
Suppliers and traders are making futile attempts to push prices in both long and flat products. However lack of demand from the key segments like construction which has come to standstill due to lack of cash and acute recession having re-emerged with a vengeance after some correction before Ramadan.
Rebars:
Import offers at $ 460-470 per tonne CNF Dubai but no bookings reported .
Domestic prices prevails at 1850 AED per tonne + 5% tax + frt delivered to customer yard. (120-180 days credit)
HRC:
China is offering $ 515-520 per tonne ,CNF, Main , Middle East port Ukranian Mills -- $ 540 per tonne , CNF , Main , Middle East port Russian -- $ 560 per tonne ,CNF,Main , Middle East port
Last week a parcel of 20,000 has been booked form Mobarekh at USD 490 , FOB or USD 510 per tonne , CNF , terms. Main , Middle East port
HDG :
Chinese offers are playing havoc at USD 715 per tonne CNF , Main , Middle East port
Indian offers at USD 810-820 per tonne CNF finding difficult to cut ice
Plates :
Being offered at USD 540 per tonne and traders are trying to push prices by USD 20-30 per tonne with no success.
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(Sourced from www.steelprices-middleeast.com)
Steel prices in MEA weakened last week. The Middle East Long Product Price Index MLPPI decreased by 46 points whereas Middle East Flat Products Index MFPPI dipped by 25 points. The overall price index MEASPI decreased by 40 points.
| Class | 22-Oct | 29-Oct | Change | %
|
| MLPPI | 3695 | 3648 | -46 | -1.3%
|
| MFPPI | 5214 | 5189 | -25 | -0.5%
|
| MEASPI | 4155 | 4115 | -40 | -1.0% |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Flat Product Price Index
MEASPI - Middle East Steel Price Index
Long Products
| Category | 22-Oct | 29-Oct | Change | %
|
| PI – Rebar | 3427 | 3421 | -7 | -0.2%
|
| PI - WRC | 3478 | 3395 | -83 | -2.4%
|
| PI - Angle | 4754 | 4774 | 20 | 0.4%
|
| PI – Structural | 4598 | 4473 | -126 | -2.7%
|
| PI – HEA | 4959 | 4910 | -49 | -1.0% |
PI- Product Index
Flat Products
| Category | 22-Oct | 29-Oct | Change | %
|
| PI - Narrow Plates | 4886 | 4885 | -1 | 0.0%
|
| PI - Wide Plates | 6490 | 6490 | 0 | 0.0%
|
| PI - Hot Rolled | 4570 | 4502 | -67 | -1.5%
|
| PI - Cold Rolled | 4752 | 4752 | 0 | 0.0%
|
| PI - Galvanized | 5170 | 5125 | -45 | -0.9% |
PI- Product Index
The Middle East market continues in ambiguity. It was much expected that post Ramadan buyers would troop back to the market. However expectation soon faded in absence of demand.
With the advent of cheaper offers from China hopes where once again rekindled about some activity as lucrative offers would suck buyers sitting over low stock levels. However nothing seems to be spurring the market.
Not much activity is expected despite all the permutations of cheaper offers and multiplicity of suppliers as the demand fundamental remains weak and the stockiest are reluctant to replenish it as they don’t want to increase immovable.
Rebars
BS4449 Grade 460B
| Location | CUR | Change | USD
|
| Dubai | AED | -15 | -4
|
| Dammam | SAR | 0 | 0
|
| Bahrain | BDR | -1 | -2
|
| Kuwait | KDW | -1 | -3
|
| Qatar | QAR | 0 | 0
|
| Jeddah | SAR | 0 | 0 |
Change is on October 29th as compared to October 22nd 2009
Change is per tonne
Wire rod
SAE 1008
| Location | CUR | Change | USD
|
| Dubai | AED | -40 | -11
|
| Dammam | SAR | -50 | -13
|
| Bahrain | BDR | -6 | -15
|
| Kuwait | KDW | -3 | -11
|
| Qatar | QAR | -48 | -13
|
| Jeddah | SAR | -50 | -13 |
Change is on October 29th as compared to October 22nd 2009
Change is per tonne
Plates 3x12
S275 JR
| Location | CUR | Change | USD
|
| Dubai | AED | 0 | 0
|
| Dammam | SAR | 0 | 0
|
| Bahrain | BDR | -1 | -3
|
| Kuwait | KDW | 0 | 2
|
| Jeddah | SAR | 0 | 0 |
Change is on October 29th as compared to October 22nd 2009
Change is per tonne
Turkey Export Prices
| Product | Grade | Size mm | Change
|
| Billets | SAE 1008 | 125 x 125 | 0
|
| Rebars | BSt500 | 8 to 32 | 0
|
| Wire Rod | SAE 1008 | 5,5 to 16 | 0 |
Change is on October 30th as compared to October 23rd 2009
Change is in USD per tonne
Turkey Import Prices
| Product | Grade | Size mm | Change
|
| Scrap | A3 | 500x500x1500 | -15
|
| Billets | 3Sp/Ps | 125x125 | -10
|
| HRC | S235JR | 3-12x1000-1500 | -10
|
| PLTS | S275JR | 10-40x2500-3000 | -20
|
Change is on October 30th as compared to October 23rd 2009
Change is in USD per tonne
To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
(Sourced from www.steelprices-middleeast.com)
Monday Market Monitor - Middle East (WEEK 43) - Sheen fades amidst slack steel demand
The Middle East steel market continues in ambiguity. It was much expected that post Ramadan buyers would troop back to the market. However expectation soon faded in absence of demand.
With the advent of cheaper offers from China hopes where once again rekindled about some activity as lucrative offers would suck buyers sitting over low stock levels. However nothing seems to be spurring the market.
Rebar offers have plummeted to USD 470 per tonne CNF Dubai from levels of USD 485 per tonne a week ago but still there are no booking. In the domestic market it is selling at AED 1850 per tonne to AED 1900 per tonne ex stockyard (120 days)
HRC is being offered at USD 520 per tonne CNF Dubai from Chinese sources with no booking.
HDG from Indian mills is being offered at USD 825 per tonne to USD 850 per tonne CNF but it is being swiftly countered with Chinese offers of USD 740 per tonne.
A plate parcel has been booked from Ukraine at USD 570 per tonne CNF, whereas Chinese mills have been offering at USD 540 per tonne.
Not much activity is expected despite all the permutations of cheaper offers and multiplicity of suppliers as the demand fundamental remains weak and the stockiest are reluctant to replenish it as they don’t want to increase immovable.
To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
(Sourced from www.steelprices-middleeast.com)
