GULF FLAT STEEL IMPORTS: Prices still on downtrend after eid break

Prices for most flat steel products imported into the United Arab Emirates and Saudi Arabia decreased on lower offers heard in the week ended Tuesday August 20, with demand yet to recover after the Eid al-Adha religious holiday last week.

The market was expected to improve later in the month, when the holiday season comes to an end.
Offers on imports of hot-rolled coil (HRC) from China and Japan to the UAE were heard at $490-505 per tonne cfr.
One deal was made from Japan to the UAE at $490 per tonne cfr for HRC.

Fastmarkets’ weekly price...


Serife Durmus

August 20, 2019

15:02 GMT