Flat steel import prices in the United Arab Emirates (UAE) increased over the past week because of a hot-rolled col shortage, sources said on Tuesday November 3.
Local demand for flat steel in India and China - which are the main suppliers of flat steel to the UAE and Saudi Arabia - has been strong recently, so there have only been limited offers of flat steel to the Gulf region at high prices.Offer prices for hot-rolled coil from Asian suppliers had been around $550 per tonne cfr. But market participants said they now expected new offers from India to come it at around $550-560 per tonne cfr because of strong...