| Announcements | ||
| Steel billet prices retract on receding scrap levels as winter wanes - 24 Jan, 2012 | ||
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As the winter mist clears the reality seems to be dawning upon the market. Even though mills have been vying for the elusive stability in prices for long and flat the grip is loosening. One is reminiscent of the rally in billet prices being triggered by the seasonal shortage of scrap. Mills as well as traders attempted to create a momentum in the market based on sentiments rather on demand. Hard selling of dream led to some ripples in Gulf waters. Low inventory levels spur stockist and traders to open buying over the past one month. However as the winter receded scrap availability eased leading to correction of nearly USD 10 per tonne. It is learnt that the billet prices have corrected by USD 20 per tonne over the week bell whether of dooms looming on the horizon. Fragile confidence is dissipating quickly. Buyers are pooh-poohing the offers. Offers of USD 630 per tonne for billets are not arousing interest. The impact on finished product is equally debilitating with re-bar offers dipping to USD 680 per tonne a quantum climb down from the previous offers of USD 705 per tonne CNF UAE. The domestic market in Middle East has slumped into silence as the market sputters. If volatility in steel prices is affecting your business, keep tab on market realities and trends by subscribing to www.steelprices-middleeast.com, which 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 Products covered 1. Long Products 2. Flat Products 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. 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) | ||
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| Announcements | ||
 | Iranian steel market trend in week 07 2012 - Long products | |
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| GMS weekly report on Pakistan ship breaking industry for WEEK 07 2012 | |
