GULF FLAT STEEL IMPORTS: HRC shortage creates price increases

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia increased over the past week because of a hot-rolled col shortage, sources said on Tuesday October 27.

Local demand for flat steel in India and China, the main exporters of flat steel to the UAE and Saudi Arabia, was strong so market participants made a limited quantity offers at high prices.
UAE
Offer prices for hot-rolled coil from Indian suppliers were at $525-535 per tonne cfr last week, with no new offers heard this week.
Market participants believe $540-550 per tonne cfr would be workable for Asia-origin HRC.

Meanwhile, Saudi Arabia offered HRC at $600 per tonne delivered to the UAE, but...

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue

Gold stocks down in risk-on shift

Gold stocks rocket on metal rebound and equities jump