The UAE is celebrating National Day on December 1 and 2. And with the Islamic country’s weekend on December 3 and 4, market activity will only resume on Sunday December 5.
The flat steel buyers in the UAE believed that buying would improve after the holiday, because of low stock levels.
India offered 2mm hot-rolled coil at $920-930 per tonne cfr Saudi Arabia, unchanged since last week, while China offered HRC at $850 per tonne cfr Saudi Arabia.
Taiwan sold 1.2mm HRC at $960 per tonne cfr during...