GULF FLAT STEEL IMPORTS: Most prices down as export tax uncertainty lingers

Flat steel imports into the United Arab Emirates and Saudi Arabia were mostly at decreased offer prices during the week ended Tuesday August 31, while the uncertainty about the direction of prices continued, sources have told Fastmarkets.

The uncertainty came because China has still not announced the level of an expected export duty to be applied to hot-rolled coil.
Some buyers believed that new duties would be announced on September 1, and wanted to wait to see how the global market would react.
Saudi Arabia
China offered HRC at a price of $1,020-1,040 per tonne cfr Saudi Arabia, unchanged for the past two weeks.

And India offered similar material at $980-1,000 per tonne cfr....

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