According to market sources, activity in the Omani flat steel market has been sluggish as the end of the year approaches, while market players have been expecting further price decreases in the market. As reported last week, Chinese exporters have been seeking to dominate the Omani hot rolled coil (HRC) market, while, with low-priced CIS offers to Oman, competition in the Omani flat steel market has increased significantly.
Over the past month, HRC offers from China and the CIS to Oman have decreased by $25/mt to $495-500/mt CFR, for delivery in December.