Flat steel import prices in the United Arab Emirates and Saudi Arabia increased slightly this week but demand was limited because of the damping effect on business of the Islamic holy month of Ramadan, sources told Metal Bulletin on Tuesday June 5.
Buyers prefer to postpone bookings during the holy month, which started in mid-May.Working hours are reduced in Saudi Arabia; Ramadan is always a slow month in Islamic nations in terms of trading activity.UAEMetal Bulletin's weekly price assessment of UAE hot-rolled coil (HRC) imports was $590-625 per tonne cfr on June 5, widening upward from $590-620 per tonne cfr.India-origin HRC was on offer at $625-630 per tonne cfr, but buyers were only bidding $615-620 per tonne cfr.Russia...