The UAE flat steel market has been witnessing sluggish demand, while quotations have remained unchanged since last week. The low flat steel demand is considered to be normal in the UAE as most market players have left for their holidays, while Ramadan is also approaching. The slackness in the market is also expected to last during Ramadan, though demand is expected to recover in the post-Ramadan period.
In the UAE domestic market, traders are still offering hot rolled coils (HRC) at $650-670/mt, cold rolled coil (CRC) at $770-790/mt, while their hot dip galvanized (HDG) coil prices are standing at $850-870/mt, all for deliveries to customer in August for advanced payments.
On the other hand, HRC import offers to the UAE are still standing at $610-620/mt CFR Dubai, while plate import offers are at $650-660/mt CFR Dubai, both for August shipments.