After purchasing some HRC lots from Japan at the start of the week, Emirati purchasers have continued to be active buying imports since China's HRC prices have been rising and may affect other import prices. Consequently, as the week draws to a close, UAE buyers who needed stocks have decided to buy Japanese and Indian materials.
According to reports, two separate lots of around 25,000–28,000 mt and 35,000 mt have been bought by Emirati purchasers from Japan for February at $540/mt CFR and $530/mt CFR, respectively. Additionally, sources claim that Indian suppliers have sold 25,000 mt of HRC to the UAE at $540/mt CFR, while earlier Indian offers to the UAE were substantially higher at $550–560/mt CFR.
However, this information has not been officially confirmed by the time of publication.
