GULF FLAT STEEL IMPORTS: Prices keep rising despite poor demand

Prices for flat steel imports into the United Arab Emirates and Saudi Arabia continued to increase during the week ended Tuesday October 19, but demand was not strong in either country, sources have told Fastmarkets.

Energy costs have been increasing in most markets, with steel mills adding these costs to their prices.
Although sources said that demand in the two Middle Eastern countries was not very strong due to a lack of new projects, most buyers believed that price increases would continue because of globally strong demand.
Saudi Arabia

India offered hot-rolled coil at $1,000-1,020 per tonne cfr Saudi Arabia over the past week, rising from offers in the pevious week...

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