According to market sources, demand in the United Arab Emirates (
UAE) hot rolled coil (
HRC) market is still weak, while Chinese and South Korean
HRC offers to the country have decreased by $20/mt during the past two weeks to $295-310/mt CFR, for November production. However,
UAE-based buyers are still postponing their bookings except for immediate needs and are trying to avoid high inventories amid the ongoing declines seen in global flat steel prices.