Fastmarkets suspends, amends five steel prices, cfr Jebel Ali

Fastmarkets has suspended three price assessments, and changed the incoterm for two price assessments that were previously on a cfr Jebel Ali basis, to take effect from March 24, 2026.

This follows the escalation of the conflict between the US, Israel and Iran, and consequent disruptions to deliveries in the region.

The following prices are suspended because relevant, relative pricing data is not immediately available:

MB-STE-0125 Steel hot-rolled coil, import, cfr Jebel Ali, UAE, $ per tonne
MB-STE-0124 Steel cold-rolled coil, import, cfr Jebel Ali, UAE, $ per tonne
MB-STE-0123 Steel hot-dipped-galvanized coil, import, cfr Jebel Ali, UAE, $ per tonne.

The following prices will be assessed on a CPT basis instead of CFR basis. Fastmarkets has observed deliveries into Jebel Ali on a CPT basis, and market sources have reported that imports from neighboring countries by truck or train were priced similarly to CFR cargoes.

The price names have been updated to reflect the changes, which are shown in italics below:

MB-STE-0127 Steel reinforcing bar (rebar), import, cpt Jebel Ali, UAE, $ per tonne
MB-STE-0122 Steel billet, import, cpt Jebel Ali, UAE, $ per tonne.

Additionally, Fastmarkets is seeking feedback on alternative price references used for steel prices in the region.

Please send any questions or comments to pricing@fastmarkets.com and steel@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.