Sluggishness still continues in UAE flat steel market

Monday, 27 August 2012 11:54:30 (GMT+3)   |  
       

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.

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