GULF FLAT STEEL IMPORTS: Prices drop on limited demand

Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia dropped over the past week due to limited demand, sources told Fastmarkets on Tuesday April 23.

End-user demand has been weak recently, so buyers have been unwilling to place orders for large tonnages, they added. The Islamic holy month of Ramadan, when business normally slows down, starts in early May, so demand is unlikely to improve any time soon. UAE China-origin hot-rolled coil was on offer to the UAE this week at around $555-565 per tonne cfr, and non-Chinese Asia-origin HRC was offered at $550 per tonne cfr. India sold HRC...


Serife Durmus

April 23, 2019

12:39 GMT