GULF FLAT STEEL IMPORTS: Most prices increase, CRC falls

The price for flat steel products imported into the United Arab Emirates and Saudi Arabia mostly increased over the past week due to increased production costs, Fastmarkets heard on Tuesday March 19.

End-user demand has been weak, so buyers were unwilling to place large-tonnage orders, sources told Fastmarkets. At the same time, production costs have been rising and placing upward pressure on the flat steel import market. Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) scrap material was $318.46 per tonne cfr on March 19, rising from $317.17 per tonne cfr on March 12. UAE China-origin hot-rolled coil was on offer to the UAE this week at around $550 per tonne cfr, with one deal heard at $550 per tonne cfr...

Published

Serife Durmus

March 19, 2019

19:27 GMT

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