Middle Eastern & North African steel market, which has been a perpetual laggard in the post recessionary era has punctured all expectation of even a semblance of revival in the last 4 years.
Revolutions that swept across the Middle East & North Africa, toppling governments and presidents that had ruled for more than a generation, compounded by the global slow down, led to severe erosion of steel demand from in some parts of MENA regions in 2011.
MENA steel markets continued to sulk in 2012 with buying primarily restricted to need based.
| Class | 5-Jan-12 | 27-Dec-12 | Change | % |
| MLPPI | 5065 | 4716 | -349 | -6.89% |
| MFPPI | 5994 | 5487 | -507 | -8.46% |
| MEASPI | 5346 | 4950 | -396 | -7.41% |
MLPPI - Middle East Long Product Price Index
MFPPI - Middle East Product Price Index
MEASPI - Middle East Price Index
Base of 10,000 as on July1st 2008
Source:
http://www.steelguru.com/middle_east_news/Middle_East_steel_prices_in_2012_down_by_74pct_YoY/296942.html
