Chinese flat steel offers to UAE keep falling

This week, import flat steel offers from China to the UAE have declined by $25-30/mt as compared to last week, while more competitive offers, particularly from China, have continued to influence local demand negatively. Meanwhile, local market players have been trying to maintain their offers at the current levels, following last week's reduction in their prices, in the face of these competitive import offers.
 
In the UAE domestic market, traders are currently offering hot rolled coils (HRC) at $600-620/mt, cold rolled coil (CRC) at $720-740/mt, while their hot dip galvanized (HDG) coil prices are standing at $805-830/mt, all for deliveries to customers, for advanced payments and for October shipments.
 
On the other hand, HRC import offers from China to the UAE are now standing at $555-560/mt CFR Dubai, while plate import offers are at $570-590/mt CFR Dubai. Both prices, which exclude VAT, are for advance payment and for November shipments.