UAE flat steel market remains sluggish, prices stable

Monday, 18 June 2012 14:51:52 (GMT+3)   |  
       

Activity in the UAE flat steel market is slow due to the approach of Ramadan, while prices have remained unchanged since last week. Buyers state that, if the current stability of prices continues in the coming days, some orders will start to be placed. However, flat steel purchases are expected to remain restricted to buyers' urgent needs until after Ramadan.
 
In the UAE domestic market, traders are offering hot rolled coils (HRC) at $680-700/mt, cold rolled coil (CRC) at $800-820/mt, while their hot dip galvanized (HDG) coil prices are standing at $880-900/mt, all for deliveries to customer in late July for advanced payments.
 
On the other hand, HRC import offers to the UAE are standing at $640-650/mt CFR Dubai, while plate import offers are at $680-690/mt CFR Dubai, both for late July shipments.

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