SteelOrbis has learned from market sources that import hot rolled coil (HRC) offers for January production to Oman from Russia, India, South Korea and China have remained stable since last week. Accordingly, offers from Russia, India and China are still standing at $570-575/mt CFR, while South Korean HRC offers to the country are trending at $590/mt CFR. These offers are for advance payments and exclude VAT. Meanwhile, market sources state that as of the New Year foreign suppliers have been seeking to increase their prices for Oman, but buyers in the country have been resisting higher offers, though import prices are expected to edge up slightly in the coming week.
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