Trends in Steel price in the world market

Due to continuous development in infrastructure sector.

Because small building construction graph is increasing in city,town & village also. Steel is need like as food, water & shelter. Common man purchases steel as per current rate or also whichever steel supplier say.Infrastructure projects also growing fast more than average. Steel companies creates their net profit. Now a days steel market rates increases because I heard raw material shortage. 

Yes since the infrastructure industry is seeing huge growth in India and many infrastructure projects are in process. The price of steel keep on increasing......
Lets see what happens...... :) 

However consntruction activities in other markets such as Saudi Arabia and Egypt has gone up.  In UAE the steel market is stagnating between USD 650 - 700/= in April 2010. The upward trend seen by Mid march has stopped and the price is new reversing due to lack of demand form big projects.  It is not expected that mega projects in construction will start before Dec 2010 due to hot months of May - Aug 2010, the Ramadan starting in August - Spetember and Haj season starting in November.

The market for steel, is controlled by China, being the largest producer (568 million tons in 2009) of steel in the world market.  In 2008 the global financial crisis brought down the price of steel to below cost of production level.  In Jan 2008 the overall average price of steel was USD 600/= and this shot up to USD 1,200/= by Sep 2008.  By Mar 2009 the prices went below USD 600/= causing damanges to lot of industries.

By early March 2010 the prices came down to around USD 500/= due to the fall in demand from heavy users.  However by late Mar 2010 the prices started to shoot up again upto USD 700/=.  UAE was a heavy user of construction steel.  However the mark