GULF FLAT STEEL IMPORTS: Weak demand leads to fall in prices

Flat steel import prices in the United Arab Emirates and Saudi Arabia fell this week, with buyers waiting to see prices hit bottom before placing orders, sources told Fastmarkets on Tuesday February 25.

Some market participants expected prices to fall because of weak demand, while others said demand could soon improve because stocks are low.
Chinese hot-rolled coil was on offer in the UAE at $495-500 per tonne cfr, down from last week’s $530-535 per tonne cfr.

Indian HRC was on offer in the UAE at $505-510 per tonne...


Serife Durmus

February 25, 2020

15:47 GMT