Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil, sources said on Tuesday November 10.
Local demand was strong for flat steel in India and China, the main exporters of flat steel to the UAE and Saudi Arabia, so only China made a limited quantity of offers at high prices.Offer prices for HRC from Chinese suppliers were heard at $570-575 per tonne cfr, but market participants believed that a workable price...