Most buyers of flat steel in the United Arab Emirates and in Saudi Arabia preferred to delay their purchasing this week because end-user demand was not strong and they expected discounts, sources told Metal Bulletin on Tuesday January 23.
UAEHot-rolled coil (HRC) was offered at $600-605 per tonne cfr from China, and a buyer was bidding $580 per tonne cfr.India offered the product at $605-610 per tonne cfr, with a buyer bidding $580-590 per tonne cfr.Metal Bulletin's weekly price assessment for UAE HRC imports was $590-600 per tonne cfr on January 23, rising from $580-590 per tonne cfr.Stock levels of HRC were high...