The prices for hot-rolled coil imported into the United Arab Emirates and Saudi Arabia have fallen over the past week, with the prices for other flat steel products moving in the opposite direction, but buying activity for all such materials has remained limited, Fastmarkets heard on Tuesday March 5.
Deals were scarce because end-user demand was still weak, sources told Fastmarkets.In addition, stock levels were still high in the UAE, which has resulted in buyers postponing new orders.UAEChina-origin hot-rolled coil (HRC) was on offer to the UAE this week at around $540-545 per tonne cfr, but no major deals were heard.India offered similar product at $550-555 per tonne cfr while South Korean offers for HRC were $550-560 per tonne cfr UAE.Taking these offers...