The
UAE flat steel market, which had witnessed good levels in terms of demand in early August, has entered a slack period in late August under the influence of the recent Ramadan holiday. Flat steel demand has remained weak and prices have trended sideways, as the local
UAE market continues to remain sluggish.
In the
UAE domestic market, traders are still offering hot rolled coils (
HRC) at $630-650/mt, cold rolled coil (
CRC) at $740-760/mt, while their hot dip
galvanized (HDG) coil prices are standing at $825-850/mt, all for deliveries to customers in September and for advanced payments.
On the other hand,
HRC import offers to the
UAE are standing at $590-600/mt CFR Dubai, while
plate import offers are at $610-620/mt CFR Dubai, both for advance payment and for late September shipments.