Flat steel import prices in the United Arab Emirates and Saudi Arabia decreased slightly this week on limited demand, sources told Metal Bulletin on Tuesday May 8.
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. However, prices are not falling sharply because of strong iron ore prices, according to market participants. Metal Bulletin's daily index of spot market iron ore prices delivered to China, normalized to Qingdao and 62% Fe, was $66.80 per tonne cfr on Tuesday, rising from $66.98 per tonne...