GULF FLAT STEEL IMPORTS: Prices down on softening demand, China holiday

Flat steel import prices in the United Arab Emirates and Saudi Arabia have decreased over the past seven days with demand being weak, sources told Fastmarkets on Tuesday September 29.

Most market participants believed that prices would remain stable or decrease further in the coming few days because of weakening Chinese demand and an upcoming holiday in the East Asian country.
China will take a national holiday from October 1 until October 8, so few new prices have been heard from the country in recent days.
Fastmarkets’ daily steel hot-rolled coil index, export, fob main port China, was $504.93 per tonne on September 29, compared with $509.34 per tonne on September 22.
UAE

Offer prices for hot-rolled...

Published

Serife Durmus

September 29, 2020

16:06 GMT

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