According to market sources, expectations in previous weeks of price increases have materialized in the Omani flat steel market this week, with ex-China hot rolled coil (
HRC) increasing by $10-15/mt over the past week to $410-425/mt CFR, for June
production. However, Omani buyers are unwilling to conclude deals for Chinese
HRC due to the increased prices and they are only making purchases to meet their immediate needs. Accordingly, demand for Chinese
HRC is weak in the Omani market.