Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week, but demand was not strong enough to support price increases, sources told Metal Bulletin on Tuesday April 24.
Buyers preferred to postpone bookings ahead of the Islamic holy month of Ramadan which starts in mid-May and will lead to a further reduction in market activity. Strong demand for locally produced flat steel in both China and India, following gains in the futures market, were behind the rising offers, according to market participants.https://www.metalbulletin.com/Article/3802124/CHINA-HRC-Prices-rise-following-higher-futures.htmlUAE Metal Bulletin's weekly price assessment for UAE hot rolled coil imports was $600-625 per tonne cfr on April 24, widening upward from $600-610 per tonne...