GULF FLAT STEEL IMPORTS: Prices edge up as HRC shortage continues

Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on Tuesday November 17.

Local demand for flat steel was strong in India and China, the main exporters of flat steel to the UAE and Saudi Arabia, so offers were limited.
Offer prices for HRC from Indian suppliers were heard at $580 per tonne cfr.
India sold HRC at $575-580 per tonne cfr to a pipemaker in the UAE recently.

Fastmarkets’ weekly price assessment for steel...


Serife Durmus

November 17, 2020

16:30 GMT