Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased during the week ended Tuesday August 27 on lower offers, with demand yet to recover as buyers hold back until prices reach a bottom.
The market is expected to improve after prices stop falling, according to sources. UAE Offers for imports of hot-rolled coil (HRC) from China to the UAE were heard at $480-490 per tonne cfr, down from last week's $490-505 per tonne cfr. India was offering HRC at $490 per tonne cfr to the UAE. Fastmarkets' weekly price assessment for steel HRC, import, cfr Jebel...