GULF FLAT STEEL IMPORTS: Prices up as demand returns

Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase over the past seven days, with demand better than last week, when market participants were just returning from the Eid al-Adha religious holiday, sources told Fastmarkets on Tuesday August 11.

Some deals were heard for re-stocking purposes, and buyers said that more price increases were expected because of global price rises.
Fastmarkets’ daily steel hot-rolled coil index, export, fob main port China, was $508.09 per tonne on August 11, compared with $495.26 per tonne on August 4.

Offer prices for HRC from India were heard in the UAE at $525-535 per tonne...


Serife Durmus

August 11, 2020

15:07 GMT