Flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, although buying activity remained limited, Fastmarkets heard on Tuesday February 26.
Deals were scarce because market participants were waiting to see whether the price increases would be permanent, sources told Fastmarkets.The buyers were doubtful because raw material prices have started to drop back slightly after rising sharply in recent weeks.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap was $305.10 per tonne cfr on February 25, falling from $324.30 per tonne cfr on February 11.In addition, stock levels were still high in the...