GULF FLAT STEEL IMPORTS: Prices mostly stable, demand remains weak

UAE
Hot-rolled coil from Russia was on offer to the UAE at $560-565 per tonne cfr, with one buyer bidding $550 per tonne cfr.

Chinese HRC was on offer at $580 per tonne cfr.

But buyers were not willing to book material because of weak end-user demand.

Fastmarkets’ weekly price assessment for HRC imports in the UAE was unchanged at $550-580 per tonne cfr on November 6.

Cold-rolled coil was on offer at $640-645 per tonne cfr from China, but no major deals were heard.

Fastmarkets’ weekly price assessment for CRC imports into the UAE was also unchanged at $640-645 per tonne cfr on Tuesday.
 
Offers for 1mm hot-dipped galvanized coil from China were $700-710 per tonne cfr, while similar material from India – which has been approved for use by the authorities in the UAE – was on offer at $780-790 per tonne cfr.

Fastmarkets’ weekly price assessment for HDG imports into the UAE was unchanged at $700-780 per tonne cfr on Tuesday.

Locally produced HDG in the UAE was on offer at $820 per tonne ex-works.

Saudi Arabia
Fastmarkets’ weekly price assessment for Saudi Arabian HRC imports was $550-570 per tonne cfr on Tuesday, down from $560-580 per tonne cfr last week.

Chinese HRC has been on offer in Saudi Arabia at $570-590 per tonne cfr, but demand has remained poor.

Buyers were bidding $550-560 per tonne cfr for Chinese HRC.

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