According to market sources, demand in the local United Arab Emirates (
UAE) hot rolled coil (
HRC) market has remained slack during the past two weeks, though with some slight upticks seen also. Market players state that demand in the
UAE is expected to move upwards due to increased inquiries for
HRC imports before and after the end-of-Ramadan holiday. Amid ongoing negotiations, Chinese and South Korean
HRC offers to the country have declined by $20/mt on the lower end and $10/mt on the upper end in the same period to $340-370/mt CFR, for September production.