GULF FLAT STEEL IMPORTS: Global demand pushes prices upward

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia have increased over the past week because of globally strong demand, although this was moderated in the UAE because of a holiday, sources said on November 30 and December 1.

The UAE has a national holiday on December 1-3, so the number of working days were limited in the country this week.
Offer prices for hot-rolled coil from Ukrainian suppliers were heard during the week at $625 per tonne cfr, and from Chinese suppliers at $650 per tonne cfr.
Buyers were bidding $600 per tonne cfr for Indian HRC.
No deals were heard, however.

Fastmarkets’ weekly price assessment for steel HRC, import, cfr Jebel Ali, UAE, was $625-650...


Serife Durmus

December 01, 2020

17:25 GMT