GULF FLAT STEEL IMPORTS: Buyers wait for price falls to stop before placing orders

Flat steel buyers in the United Arab Emirates and Saudi Arabia preferred to wait for prices to stop coming down before they placed any new orders, sources told Fastmarkets on Tuesday September 21.

Most imported flat steel prices to the two countries have decreased during the past week, because of lower offer prices. End-user demand remained weak because of the lack of big new projects, sources added.
While some buyers expected prices to decrease further in the next few months, some believed that prices would remain stable at current levels until the end of September, because the recent price falls have been sharp.
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