Even though no fresh sales have been announced this week, Emirati re-rollers in need of stock have lately expressed an interest in importing, resulting in the purchase of some lots from Japanese and Indian suppliers. Chinese suppliers, on the other hand, have maintained their offers steady, but no deals have been reached because, according to sources, customers continue to have concerns in relation to AD and tariff developments. Furthermore, according to UAE market participants, business activity in the region has slowed as Ramadan has started.
As a result, Japanese suppliers sold 23,000 mt of HRC to Emirati re-rollers at $510/mt CFR for May shipping at the end of last week. Meanwhile, current offers from Japan to the UAE remain at around $510-515/mt CFR from last week.
Another sale has been reported from India, according to sources, with Indian suppliers selling 5,000 mt to the UAE at $515/mt CFR, while current offers are reported at $515-525/mt CFR down from $525-530/mt CFR last week.
Meanwhile, Chinese offers have remained stable over the past week at $495-515/mt CFR, with no new deals. In contrast, this week Taiwanese suppliers have reduced their offers to the UAE by $5/mt to $525/mt CFR for late April-early May shipment.
In addition, according to sources, a South Korean mill is rumored to have offered HRC to the UAE this week at $510/mt CFR, but the mill’s representatives have refuted this offer.
“No, we are not currently offering to the GCC. Our price is over $540-560/mt CFR, and so it is not practical for this market,” a representative of the mill told SteelOrbis.