Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have remained steady over the past seven days due to weak demand, but a recovery is likely in the next few weeks because of stronger pricing for raw materials, sources told Fastmarkets on Tuesday November 13.
UAEPrices on Russia-origin offers of hot-rolled coil (HRC) into the UAE have been unchanged at $560-565 per tonne cfr, but demand was limited, Fastmarkets was told.Market participants, however, expected an uptick in prices because of the firm raw material costs, despite the poor demand."Raw material prices are strong and all bookings currently being made will be for deliveries in 2019. So...