Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week, with demand still weak, sources told Metal Bulletin on Tuesday July 31.
Demand is weak in both national markets because of the seasonal summer slowdown, with buyers booking only small quantities. And no improvement is expected before late August. The Islamic Hajj and Eid al Adha religious celebrations will be around August 20, so the Middle East markets are expected to remain slow until late next month. UAE Metal Bulletin's weekly price assessment for UAE imports of HRC was $595-600...