There was only limited demand for imported flat steel in the United Arab Emirates and Saudi Arabia in the week to Tuesday, May 4, largely because of the Islamic holy month of Ramadan, but also due to labor day holidays in China and elsewhere, sources said.
Working hours in both countries are reduced during Ramadan, which started on the evening of April 12 and will end next week.China, which is one of the biggest flat steel exporters to the Middle East, was on Labor Day holiday on May 1-5, so, there have been no new offers since the start of the...