GULF FLAT STEEL IMPORTS: Prices up but demand only moderate

August 18, 2021 / www.metalbulletin.com / Article Link

Prices for hot-rolled and cold-rolled steel coil imports into the United Arab Emirates and Saudi Arabia increased during the week ended Tuesday August 17, although demand was only moderate, sources told Fastmarkets.

The reason for this level of demand, given the slow market last week, was the low levels of stock being held in the two countries, sources said.
But buyers preferred to make small bookings only, because they wanted to see which direction prices might move.
Saudi Arabia
India offered hot-rolled coil at $990-1,000 per tonne cfr Saudi Arabia in the week to Tuesday, up from offers at $960-980 per tonne cfr in the preceding week.

China offered the product at $1,020-1,040 per...

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