GULF FLAT STEEL IMPORTS: Prices increase but demand yet to improve

Flat-rolled steel import prices in the United Arab Emirates and Saudi Arabia increased further during the week ended Tuesday May 18, but demand has yet to improve due to limited market activity after the Eid Al-Fitr holiday, sources told Fastmarkets.

The Eid holidays ended on May 17 and stock levels are low in the countries, so buying is likely to improve soon, sources added.
Saudi Arabia
Hot-rolled coil was offered at $1,000-1,020 per tonne cfr from China.
Market participants expected prices from India to be at around $1,100 per tonne cfr.

Fastmarkets’ weekly price assessment for steel HRC, import, cfr Saudi Arabia was $1,000-1,100 per tonne on May 18, up by 5.00% from...

Published

Serife Durmus

May 18, 2021

14:59 GMT

Bursa, Turkey