Flat steel import prices in the United Arab Emirates and Saudi Arabia increased over the past week, but buying activity remained limited.
Deals were scarce because market participants were waiting to see if the price increases will be permanent, sources told Fastmarkets on Tuesday February 12.The buyers wanted to see if the price increases will be permanent, because raw material prices have started to drop back slightly after rising sharply in the previous weeks.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap was $323.89 per tonne cfr on February 19, falling from $324.54 per tonne cfr on February 12.The price increases for scrap started after the rupture of...