GULF FLAT STEEL IMPORTS: Most prices fall in prolonged market slowdown; HDG holds

Most prices for flat steel products imported in the United Arab Emirates (UAE) and Saudi Arabia decreased over the past week, except for hot-dipped galvanized (HDG) coil, while demand for material was limited, sources said on Tuesday June 25.

Offers for hot-rolled coil (HRC) were at around $500-510 per tonne cfr India and Japan, but no major deal was heard because of weak end-user demand.
Working hours are limited in the country from June 15 until September because of extremely hot weather, meaning HRC demand for construction has decreased.

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Serife Durmus

June 25, 2019

14:50 GMT