SteelOrbis has learned from market sources that in the Omani market ex-Ukraine hot rolled coil (HRC) offers have increased by $5/mt on the higher end since last week to the range of $540-545/mt CFR for advance payment and for August shipments, excluding VAT. Meanwhile, Russian HRC offers for Oman, which are unchanged at $550-555/mt CFR, are expected to indicate increases on the back of upward movements in Chinese HRC offers, while low inventory levels in Oman have also strengthened expectations of price increases. However, owing to the influence of Ramadan, weak demand in the local market is not expected to register an improvement during the current month.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.
