News & Trends
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)

Today's News
Clips
0blt1 Oil closing on to USD 50 on Gaza and Russia gas tussle
0blt1 US local rebar demand in downward trends
0blt1 Nickel shot up to USD 13,000 per tonne at LME
0blt1 Korean steelmakers to export CR products at low prices
0blt1 Oil closing on to USD 50 on Gaza and Russia gas tussle
0blt1 US local rebar demand in downward trends
0blt1 Nickel shot up to USD 13,000 per tonne at LME
0blt1 Korean steelmakers to export CR products at low prices
0blt1 Oil closing on to USD 50 on Gaza and Russia gas tussle
0blt1 US local rebar demand in downward trends
0blt1 Nickel shot up to USD 13,000 per tonne at LME
0blt1 Korean steelmakers to export CR products at low prices
Announcements
0blt1 Feng Hsin raised rebar prices by TWD 500 per tonne
0blt1 AK Steel surcharge for electrical steel
0blt1 Indian domestic steel price index stable
0blt1 Chinese steel market starts New Year with price rally
0blt1 Indian long product prices shows improvement in West
0blt1 International coal price tends stable on rising crude price
0blt1 Indian flat products prices remain stable
0blt1 Scrap and ingot prices improve at some locations in India
0blt1 Feng Hsin raised rebar prices by TWD 500 per tonne
0blt1 AK Steel surcharge for electrical steel
0blt1 Indian domestic steel price index stable
0blt1 Chinese steel market starts New Year with price rally
0blt1 Indian long product prices shows improvement in West
0blt1 International coal price tends stable on rising crude price
0blt1 Indian flat products prices remain stable
0blt1 Scrap and ingot prices improve at some locations in India
0blt1 Feng Hsin raised rebar prices by TWD 500 per tonne
0blt1 AK Steel surcharge for electrical steel
0blt1 Indian domestic steel price index stable
0blt1 Chinese steel market starts New Year with price rally
0blt1 Indian long product prices shows improvement in West
0blt1 International coal price tends stable on rising crude price
0blt1 Indian flat products prices remain stable
0blt1 Scrap and ingot prices improve at some locations in India
News And Trends
0blt1 Indian iron ore spot prices decline last week
0blt1 Indian iron ore spot prices decline last week
0blt1 Indian iron ore spot prices decline last week
Export And Import Levels
0blt1 Newcastle thermal coal price down by 1.7%
0blt1 Chinese steel export prospects remain bleak in 2009
0blt1 Newcastle thermal coal price down by 1.7%
0blt1 Chinese steel export prospects remain bleak in 2009
0blt1 Newcastle thermal coal price down by 1.7%
0blt1 Chinese steel export prospects remain bleak in 2009
Trade Issues
0blt1 Major initiatives taken by Indian steel ministry
0blt1 China eliminates nickel from catalogue of forbidden products
0blt1 Mr Wen plans to help auto and steel industries
0blt1 Ukraine to keep railway tariffs for industries unchanged
0blt1 China to resume tax-free policy on copper, nickel, aluminium
0blt1 Major initiatives taken by Indian steel ministry
0blt1 China eliminates nickel from catalogue of forbidden products
0blt1 Mr Wen plans to help auto and steel industries
0blt1 Ukraine to keep railway tariffs for industries unchanged
0blt1 China to resume tax-free policy on copper, nickel, aluminium
0blt1 Major initiatives taken by Indian steel ministry
0blt1 China eliminates nickel from catalogue of forbidden products
0blt1 Mr Wen plans to help auto and steel industries
0blt1 Ukraine to keep railway tariffs for industries unchanged
0blt1 China to resume tax-free policy on copper, nickel, aluminium
Round_corner2
Price Index - India
  Jan-05 Jan-02
ILPPI 7130 7115 Up
IFPPI 6784 6782 Up
INDSPI 6965 6956 Up
Currency Rates
06 Jan, 2009
USD 1.0000
AUD 1.4031
BRL 2.2930
CAD 1.2062
CNY 6.8210
EUR 0.7270
GBP 0.6876
INR 48.9445
JPY 92.6172
RUB 29.0807
ZAR 9.3662
Source: OANDA.com
Ads_spchina
Ads_spmea
FAIL (the browser should render some flash content, not this).