Flat steel import prices decrease in the UAE and Saudi Arabia, market direction uncertain

Flat steel import prices to the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday November 9, and the market direction was still uncertain because of different price moves from different regions, sources told Fastmarkets.

Hot-rolled coil prices have been decreasing recently in China, but increasing in Europe.
On the other hand, Indian flat steel exporters are offering limited quantities because of strong demand in the country's local market.
As a result, flat steel importers in the UAE and Saudi Arabia preferred to wait until prices stabilize.
"Everyone is of the opinion that prices will fall further," one trader in the UAE said.
Saudi Arabia

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