According to market sources, demand in the local United Arab Emirates (
UAE) hot rolled coil (
HRC) market is still very weak this week. Market players state that demand for
HRC has fallen significantly during the past two weeks in the
UAE and is expected to remain weak in the coming period due to Ramadan. Meanwhile, ex-China
HRC offers to the
UAE market have decreased by $10/mt over the past two weeks to the range of $370-390/mt CFR for August
production.