GULF FLAT STEEL IMPORTS: Some prices increase on higher offers

Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have increased slightly over the past seven days due to higher offers, sources told Fastmarkets on Tuesday December 4.

Demand was subdued because buyers do not want to build inventory before finalizing their year-end accounting procedures, while it is also the case that existing stocks are enough to meet current consumption. Market participants did not think buying would increase in December, so no significant price change is expected until January due to limited market activity. UAE Hot-rolled coil (HRC) was on offer to the UAE from China at $525 per tonne cfr up from $510 per tonne cfr, while Russia was offering the product at $525-530...

Published

Serife Durmus

December 04, 2018

15:55 GMT

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