GULF FLAT STEEL IMPORTS: Prices down but demand improves

Flat steel prices for imports into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday June 29, but demand was better because of low stock levels, Fastmarkets was told.

Some market participants expected flat steel prices to increase because of Russia's recently proposed export duty.
Russia will impose a base 15% export duty on 340 metal products, including hot-rolled coil, from August 1.
These duties will probably result in reduced availability of HRC in the global markets, and higher prices, sources told Fastmarkets.
Saudi Arabia

Hot-rolled coil has been offered at $940-950 per tonne cfr from China to Saudi Arabia, falling from offers at $1,000 per tonne cfr last week....

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