SteelOrbis has learned from market sources that import offers for hot rolled coil (HRC) from China to Oman have remained stable since last week at $520-525/mt CFR.
As Chinese economic growth continues to slacken compared to 2013, the country's export volumes continue to increase. Market sources state that under these circumstances Chinese steel producers want to exert control over the Omani market. Demand for import HRC has remained weak in the Omani market, while local buyers are expected to continue to keep a close eye on market trends before concluding import bookings.