GULF FLAT STEEL IMPORTS: Prices increase sharply despite weak demand

Flat steel import prices to the United Arab Emirates and Saudi Arabia increased sharply in the week to Tuesday April 13 despite weak demand, sources told Fastmarkets.

The weakness in demand was attributed to the Islamic holy month of Ramadan that started on the evening of April 12, traditionally a slow period for both countries amid reduced working hours.
But uncertainty on rebates for Chinese steel exports, in addition to strong demand for Indian flat steel in global markets, have resulted in very high prices.
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Serife Durmus

April 13, 2021

15:52 GMT

Bursa, Turkey