GULF FLAT STEEL IMPORTS: Buyers yet to return to market after holiday

Flat steel import buyers in the United Arab Emirates and Saudi Arabia preferred to wait before placing new orders during the week ending Tuesday, July 27 because the Eid al-Adha holiday has very recently finished, sources told Fastmarkets.

Slow buying has also been encouraged by fluctuating prices for most products, sources added, and HRC prices from China have been falling recently.

Fastmarkets’ calculation of the steel hot-rolled coil index export, fob main port China was $919.14 per tonne on July 27, falling from $920.44 per tonne on July 20 but rising from $905 per tonne on July 13.

Saudi Arabia
India offered HRC at $990-1,000 per tonne...


Serife Durmus

July 27, 2021

14:43 GMT