Report Period: April 29 โ May 6, 2026
Analyst: Amy SteelInsights (amyinsights.com)
*This is a limited preview. The full report includes complete price tables for China, Saudi Arabia, UAE, Turkey, Iran, Iraq, and Egypt, full import viability assessments with war risk and inland trucking costs, a week-on-week deep dive comparing this period to April 22โ29, and specific quantified action items for procurement and sales teams.*
๐ Core Insights Preview (Excerpt from Full Report)
- Sabic/Hadeed Slashes Rebar Prices by $192/t in Tactical Moveย โ After three consecutive April hikes, Saudi Arabia’s largest steel producer announced a dramatic price cut. June-delivery quotes, however, remain protected at premium levels, revealing a two-tier market that procurement teams must navigate carefully. (Sources: Reuters, Gulf Industry Online)
- Baltic Dry Index Surges to Five-Month High โ Freight Costs Explodeย โ The BDI surged to nearly 3,000 points, up double-digits in a single week, as Capesize iron ore and coal demand drove freight rates sharply higher. This silently inflates the landed cost of every seaborne steel shipment to the Middle East. (Sources: Baltic Exchange, Clarksons)
- Iran Export Suspension Expands to 66 Tariff Codes Including Billetsย โ The embargo now covers a much broader range of semi-finished products than previously understood, directly affecting the raw material that Gulf re-rollers depend on. A repair timeline of 6โ12 months means this supply gap is structural, not temporary. (Sources: Etemad, Mysteel)
- China Reopens After Holiday with Strong Bullish Signalย โ Domestic billet prices jumped sharply on the first trading day after the Labor Day break, supported by robust manufacturing PMI data and speculative buying in steel futures, setting the stage for firmer FOB export offers. (Sources: BigMint, Caixin)
- Turkey Rebar Softens as Scrap Rally Peaksย โ Turkish rebar export prices dropped notably week-on-week, driven by retreating scrap costs and weak European demand. This divergence from the Asian steel complex creates origin arbitrage opportunities for Middle East buyers. (Sources: Kallanish, BigMint)
๐ฐ Price Snapshot (Selected Benchmarks)
| Product | Origin/Market | Price (This Week) | Weekly Trend |
|---|---|---|---|
| Billet (3SP, 150mm) | China FOB | $470โ480/t | โฒ Firming |
| HRC (SAE1006, 2-3mm) | China FOB | $493โ497/t | โธ๏ธ Stable (holiday-limited) |
| Rebar (B500B) | Turkey FOB | $580โ590/t | โผ Notable Decline |
| Scrap (HMS 80:20) | CFR Turkey | $395โ404/t, peaked and retreated | โผ Peaked |
| Rebar (May EXW) | UAE Emirates Steel | AED 2,721/t ($741/t) | โธ๏ธ Rolled Over |
| HRC (1.2mm SPHT-1) | CFR Jeddah (booked) | $595โ601/t CFR | โฒ Market Verified Benchmark |
| Rebar (June-delivery) | Saudi Hadeed | SAR 3,000โ3,100/t | โฒ Forward Pricing Protected |
| Baltic Dry Index | Global dry bulk | 2,991 | โฒ Sharp Surge |
Full report includes: Complete FOB China table (eight product categories), Saudi domestic vs. import parity analysis after the tactical price slash, UAE billet import assessment trends, Egypt safeguard duty-adjusted landed costs, Turkey export competitiveness matrix, and detailed week-on-week changes versus the prior period.
๐ข Port & Logistics Status Summary
| Port | Status | Steel Import Viability | Key Note |
|---|---|---|---|
| Jebel Ali (UAE) | ๐ด Restricted | Effectively Closed | Maersk accepting containers via Khor Fakkan rail; MSC bypass route launching May 10 |
| Dammam (Saudi) | ๐ด Restricted | Inaccessible | All cargo must divert via Jeddah with $65โ125/t inland trucking premium |
| Jeddah (Saudi) | ๐ก Operational | Primary Gateway | Market-verified CFR benchmark: Chinese HRC booked at $595โ601/t |
| Sohar (Oman) | ๐ข Operational | Viable Alternative | Low congestion; inland trucking to UAE adds $55โ75/t |
๐ก Actionable Advice Preview
For Procurement Managers (Buyers)
- Reassess import viability using the $595โ601/t CFR Jeddah HRC benchmark.ย This market-verified booking provides a concrete landed cost reference. With Hadeed’s tactical spot pricing potentially offering a rare discount to import parity, verify current domestic availability before committing to seaborne cargo.
For Export Sales Managers (Sellers)
- Fill Iran’s expanded billet supply gap.ย The export suspension now covers 66 tariff codes explicitly including billets. Gulf re-rollers who historically relied on Iranian semi-finished material need reliable alternatives with transparent CFR pricing via Jeddah or Sohar.
๐ What You Get in the Full Report
The complete 20+ page weekly report equips you for six-figure procurement and sales decisions with:
- Comprehensive Price Tables:ย 40+ price points across 8 product categories and 6 regional markets, all with source citations.
- Week-on-Week Deep Dive:ย A dedicated section comparing this week’s data against April 22โ29 across seven dimensions โ prices, policy, currencies, logistics, sentiment, new data, and overall assessment โ with a forward price forecast and three supporting arguments.
- Hadeed Price Slash Analysis:ย A detailed interpretation of the tactical price cut versus protected forward pricing, enabling you to distinguish between short-term bluffs and genuine market shifts.
- Import Viability Assessment:ย Landed cost analysis adjusted for BDI surge, war risk premiums, and inland trucking, benchmarked against the confirmed $595โ601/t CFR Jeddah HRC booking.
- Dual-Perspective Action Items:ย Separate, prioritized advice for procurement teams and export sales teams with specific price triggers, routing recommendations, and timing guidance.
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๐งย Questions? Custom reports? Contactย amy@amyinsights.com