GULF FLAT STEEL IMPORTS: Saudi Arabian buyers expect prices to fall, UAE buyers wait

Buyers of flat steel in Saudi Arabia expected prices to decrease because of the current low demand, while buyers in the United Arab Emirates were waiting for next week to see the direction of price movement, sources told Fastmarkets on Tuesday February 9.

China and India are the main flat steel exporters to the Gulf region. China will be on its national New Year holiday February 11-17, and no new prices have been heard from India this week, with producers in the country focused more on local sales.
"I expect a correction in prices by the end of February," one trader based in the UAE said. "Demand is not enough for higher prices."

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