GULF FLAT STEEL IMPORTS: Prices stable, market waits for new prices from China

Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable over the past week as market participants waited for Chinese mills to put in new offer prices following the Lunar New Year holiday, sources told Fastmarkets on Tuesday February 12.

Demand was still weak because stock levels in the UAE were already high and buyers wanted to see which direction prices would move after the Lunar New Year holiday in China, they added.

But no new prices have been quoted by Chinese sellers despite the Lunar New Year holiday officially ending on February 10, the sources noted.

 

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