GULF FLAT STEEL IMPORTS: HDG price falls on lower Indian offers, demand still weak

Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly unchanged over the past week, with demand remaining soft, sources said on Tuesday January 22. But import offer prices for hot-dipped galvanized coil have slumped.

Demand was subdued because stock levels in the UAE were already high and buyers have not yet started to place bookings in 2019, sources told Fastmarkets. In addition, Saudi Arabian buyers were not willing to accept price increases because end-user demand was still weak. UAE India-origin HRC was on offer to the UAE at around $510-520 per tonne cfr, but no major deals were heard. China did not send any new offers...


Serife Durmus

January 22, 2019

16:14 GMT