GULF FLAT STEEL IMPORTS: Prices up on higher offers; demand still weak

The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have increased over the past week, with levels of demand remaining low but consistent, Fastmarkets heard on Tuesday April 2.

Demand among end-users has been weak, so buyers were unwilling to place orders for large tonnages, sources told Fastmarkets. UAE China-origin hot-rolled coil (HRC) was on offer to the UAE this week at around $565 per tonne cfr, while non-Chinese Asia origin HRC was offered at $570 per tonne cfr. No major deals were heard because people wanted to see if the price increases are permanent. Taking these offers into account, Fastmarkets’ weekly price assessment for HRC imports into the UAE was $565-570 per tonne cfr on April 2, rising from...

Published

Serife Durmus

April 02, 2019

17:50 GMT

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