GULF FLAT STEEL IMPORTS: Prices stable on religious holiday lull

Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia remained steady over the past week during the Eid al-Fitr holiday, which marked the end of the Islamic holy month of Ramadan, sources said on Tuesday June 11.

The observance of Ramadan among Muslim communities typically results in shorter working days and reduced demand for materials. Ramadan began early in May and ended last week with the Eid holiday. UAE China-origin hot-rolled coil (HRC) was offered at around $545 per tonne cfr, while similar material was being offered at around $520-530 per tonne cfr...


Cem Turken

June 11, 2019

17:42 GMT