GULF FLAT STEEL IMPORTS: Prices up but holiday limits demand

Flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, although demand was only moderate, sources told Fastmarkets on Tuesday July 21.

Demand was subdued because of the upcoming Eid Al-Adha religious holiday at the end of July. But prices went up because of high offers.
India stopped offering flat steel to the UAE toward the end of last week and UAE market participants expected new offer prices to be higher.

Offer prices of hot-rolled coil (HRC) from India were heard in the UAE at $480-490 per tonne cfr, with buyers bidding...


Serife Durmus

July 21, 2020

16:40 GMT