During the current week, a few more India-based suppliers of hot rolled coil (HRC) have shown flexibility in negotiations with Emirati customers. As a result, lately about 35,000-40,000 mt of ex-India SAE1006 HRC were booked to the UAE in addition to 75,000 mt reported by SteelOrbis last week. The most recent deals were reported at $1,030-1,040/mt CFR, while a week ago the material has changed hands mostly at $1,038-1,060/mt CFR.
Despite the demand for ex-China material in the UAE has remained constrained due to the uncertainty concerning the export duty, this week SteelOrbis has learned of a fresh booking of 10,000 mt of cold rolled full hard (CRFH) coils from China to the UAE at $918/mt CFR, $2-22/mt lower than the general range of offers voiced to the customers within the week.
