Flat steel demand in the UAE domestic market has improved in the past week, sooner than expected, since the market had been foreseen to revive only after Ramadan. Although flat steel prices in the UAE have not showed any increase so far, it is thought that prices may start to rise in September as demand continues to improve.
In the UAE domestic market, traders are still offering hot rolled coils (HRC) at $630-650/mt, cold rolled coil (CRC) at $740-760/mt, while their hot dip galvanized (HDG) coil prices are standing at $825-850/mt, all for deliveries to customers in September and for advanced payments.
On the other hand, HRC import offers to the UAE are standing at $600-610/mt CFR Dubai, while plate import offers are at $640-660/mt CFR Dubai, both for advance payment and for October shipments.