Flat steel import prices in the United Arab Emirates and Saudi Arabia showed only small changes this week because demand was limited by the start of the Islamic holy month of Ramadan, sources told Metal Bulletin on Tuesday May 22.
Buyers preferred to postpone bookings during the holy month, which started last week.Working hours are reduced in Saudi Arabia, with Ramadan always being 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 $590-610 per tonne cfr on May 22, widening upward from $590-600 per tonne cfr.India-origin HRC was on offer at $650-660 per tonne cfr, but buyers were...