GULF FLAT STEEL IMPORTS: Price increases continue on limited availability

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to increase over the past week because of globally strong demand and reduced availability of some products, sources said on Tuesday December 22.

Demand was not strong in the UAE and Saudi Arabia because stock levels were sufficient to meet limited end-user demand.
Buyers were also reluctant to accept higher prices and sellers were unwilling to give discounts.
UAE
Offer prices for hot-rolled coil from Chinese suppliers to the UAE came in at $760-770 per tonne cfr during the week, up from $690-700 per tonne cfr previously.
Chinese HRC prices hit a 12-year-high on December 21.

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