Amidst the currently prevailing volatile and speculative global steel price scenario, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis in Middle East.
In order to provide a index for steel prices SteelGuru.com decided to work on both long products and flat products for respective category indices as also a composite one for steel. We call them MLPPI, MFPPI and MEASPI and have started releasing these indices with effect from July 1st 2008, after taking June 30th 2008 as base.
MLPPI is based on daily market prices of three benchmark products rebars, wire rod and sections in 5 countries, whereas MFPPI is based on HRC, plates, CR and HDG. These indices have been built considering their respective weights in the composite categories as also in the shares of sales in these countries.
The pricing input is from www.steelprices-middleeast.com, which publishes market transaction prices of benchmark products among select locations 5 days a week.
These price indices outline the way domestic steel market is moving day by day and will help producers, agents in the supply chain, steel buyers, bankers and analysts in their respective businesses.
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