GULF FLAT STEEL IMPORTS: Prices increase but buyers hold back

Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week on higher offers, but demand remained weak because buyers were waiting to see if the hikes would gain acceptance, sources told Fastmarkets on Tuesday January 14.

No new bookings were heard this week because buyers wanted to see if prices will fall.
UAE
Offer prices for hot-rolled coil (HRC) from China were heard in the UAE at $530 per tonne cfr, up from last week’s $500-510 per tonne cfr. One buyer was bidding $510-515 per tonne cfr for Chinese HRC.

Indian HRC was offered at $545-550 per tonne cfr, up from last week’s $520-525 per tonne cfr...

Published

Serife Durmus

January 14, 2020

17:15 GMT

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