Offer prices on flat steel imports into the United Arab Emirates and Saudi Arabia have increased over the past week, but buyers have not accepted the new prices, sources told Fastmarkets on Tuesday November 12.
Buyers were still reluctant to book large tonnages because of the weak end-user demand, they said.UAEOffer prices for hot-rolled coil (HRC) from Japan were heard in the UAE at $450-460 per tonne cfr this week. Two buyers were bidding $415-420 per tonne cfr.India-origin HRC was on offer to the UAE at $430 per tonne cfr.Fastmarkets' weekly price assessment for steel HRC, import, cfr Jebel Ali, UAE, was $420-440 per tonne...