The prices of steel have stabilised at RO 300 per tonne. The new survey conducted by the Public Authority for Consumer Protection revealed that the prices of steel stood at that level and the highest price reached was RO 300 per tonne while the total minimum price was RO 289.

The survey conducted by the authority pointed out that the price for Sharq Sohar iron stabilised at RO 300 per tonne in the Middle East and Majan iron declined from RO 295 per tonne to RO 294 in Oman Construction for 8 and 10 mm and from RO 293 to RO 292 for 12-32 mm.

Turkish iron also declined from RO 295 to RO 294 for 8 and 10 mm in Al Ansari from RO 293 to RO 292 for 12-32 mm. Steel prices are stable at these levels since the beginning of this year amid calmness in the construction sector in the Sultanate.

Arab Steel website published that an official from a Brazilian company said: “The levels of today’s high prices will remain the same throughout the year, but we may see a slight decline after the second quarter when the market enters new productive potential.”

Last last year, steel prices recorded a rise since from the beginning of the year. The price of one tonne climbed from RO 200 in January to about RO 335 in March and April, but declined to RO 285 per tonne by the end of the year.