News
Monday Market Monitor - MEA (WEEK 30) - Stable - 28 Jul, 2008
Domestic prices remained stable in most of the markets, except for Saudi Arab, which saw dip in some of the products.

In addition a sever jump is reported in HDG prices in Abu Dhabi.

The trend for the most important steel product rebar is given below, which indicates that USD 1500 levels are prevailing across the region except for Qatar, where government is subsidizing the retail prices.

Rebar
LocationCurrency17-Jul25-JulChange%USD
Dubai AED5750575000.0%1565
Abu Dhabi AED5750575000.0%1565
DammamSAR5600560000.0%1493
JeddahSAR5600560000.0%1493
Bahrain BHD64064000.0%1697
Iran USD1700170000.0%1700
Kuwait KWD40840800.0%1535
Qatar QAR3250325000.0%893


Prices for other some other locations are as under

Dammam
ProductGrade17 Jul 24 Jul Change%USD
W sectionA36/S275JR55005400-100-1.8%1440
AnglesA36/S275JR52005000-200-3.8%1333
ChannelsA36/S275JR55005250-250-4.5%1400
Plates 2x6A36/SS40056005450-150-2.7%1453
Plates 3x12S275 JR58005650-150-2.6%1507
Sheets HRC480050004900-100-2.0%1307
Wire RodsSAE 1008 60006000 0.0%1600
HDG0.70 Coils59005750-150-2.5%1533
CRSCommercial57005600-100-1.8%1493
IPE14-16-1854005250-150-2.8%1400
Structural 54005250-150-2.8%1400
HEA 55005400-100-1.80%1440
In SAR per tonne

Abu Dhabi
ProductGrade17 Jul 24 Jul Change%USD
W sectionA36/S275JR5200520000.0%1416
AnglesA36/S275JR4800480000.0%1307
ChannelsA36/S275JR5000500000.0%1361
Plates 2x6A36/SS4004800480000.0%1307
Plates 3x12S275 JR5600560000.0%1524
Sheets HRC48004700470000.0%1279
Wire RodsSAE 1008 5000500000.0%1361
HDG0.70 Coils520055003005.8%1497
CRSCommercial4800480000.0%1307
IPE14-16-184600460000.0%1252
Structural 4800480000.0%1307
HEA 5500550000.0%1497

In AED per tonne

But, with the weakening of import offers, the prices should be moving downwards in near future

(Sourced from www.steelprices-middleeast.com)

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 Price Index - India
12-Mar
11-Mar
ILPPI
7284
7182
Up
IFPPI
8081
8027
Up
INDSPI
7664
7585
Up
 Currency Rate
12 Mar, 2010
 
USD
1.0000   
AUD
1.0914   
BRL
1.7655   
CAD
1.0238   
CNY
6.8273   
EUR
0.7301   
GBP
0.6634   
INR
45.3700   
JPY
90.6493   
RUB
29.4630   
ZAR
7.4229   
Source: http://www.xe.com
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