GULF FLAT STEEL IMPORTS: Prices continue to rise, but buyers hold back

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to rise over the past week, mainly due to strong global demand and despite there being less enthusiasm in their domestic markets.

Demand was not strong in the UAE or Saudi Arabia because stock levels were sufficient and end-user demand was only limited, sources told Fastmarkets on Tuesday December 15.
UAE
Offer prices for hot-rolled coil from Chinese suppliers came in at $690-700 per tonne cfr in the week to Tuesday, rising from $660-670 per tonne cfr seven days ago.
And Indian HRC was on offer at $740 per tonne cfr UAE, up from $680-700 per tonne cfr last week.

No deals were heard, sources said, but one buyer was bidding $680-690 per tonne...

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