Emirati buyers have remained inactive in terms of HRC import purchase throughout the past week, due to slow local trade and the increased volatility of import offers. According to market insiders, the cause for the domestic market slowdown is the current uncertainty in international market conditions and Trump's actions. Meanwhile, Chinese suppliers have reduced offers from the previous week due to slower trade price levels and falling futures prices, while Indian suppliers have increased offers. According to reports, the rising trend in ex-India prices is due to many mills scheduling maintenance works this month in anticipation of a local supply shortage.
"This week, prices climbed because most mills in India have scheduled maintenance shutdowns in this quarter, so they expect a shortage in the local market, which naturally drives prices higher,” an exporter told SteelOrbis
Consequently, Indian suppliers have increased prices week on week to $540-550/mt CFR, up from $520-530/mt CFR, for shipment in May.
In contrast, ex-China offers to the UAE for SS400 HRC have decreased to $495-505/mt CFR, down from $505/mt CFR last week, for May shipment.
Meanwhile, Japanese and Taiwanese suppliers have continued to remain silent on new offers, as trade in the region is currently slow and import prices are fluctuating. The previous offers to the UAE from Japan and Taiwan were at $520/mt CFR and $525-530/mt CFR, respectively.
