GULF FLAT STEEL IMPORTS: Prices stable, demand very weak

Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable this week after the sharp fall last week, with the market very slow amid concerns about the Covid-19 pandemic, sources told Fastmarkets on Tuesday April 7.

Only one hot-rolled coil booking was heard, with nobody wanting to place new orders because of the current situation in around the world and sharply falling prices, buyers said.
Dubai authorities announced a lockdown lasting two weeks starting on April 4, only allowing shopping for food and medicine in the emirate. No trucks carrying anything other than food and medicine is allowed into Dubai, which is the biggest consumer of steel in the UAE.

Even though there are no steel producers in Dubai, the lockdown will have a...

Published

Serife Durmus

April 07, 2020

17:05 GMT

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