GULF FLAT STEEL IMPORTS: Buyers wait for China to return to market

Buyers of flat steel in Saudi Arabia and the United Arab Emirates were making no deals while they waited for new prices from China, which will be back from a national holiday soon, sources told Fastmarkets on Tuesday February 16.

China's Lunar New Year holiday runs February 11-17.
Offers were heard from India, but buyers believed that the prices were too high.
End-user demand in both countries was also weak.
In addition, some flat steel buyers wanted to wait for a decision about possible import duties into the UAE.
Saudi Arabia

Saudi Arabia's flat steel market was slow during the week, because of the uncertainty about the direction of prices....

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