Flat steel prices in the UAE domestic market have remained stable over the past week, while demand has softened amid the approach of the year-end. Meanwhile, market sources state that the sluggishness of demand is considered to be normal in this period of the year, as most market players have already left the market for their holidays.
In the UAE domestic market, traders are still offering hot rolled coil (HRC) at $580-610/mt +VAT, cold rolled coil (CRC) at $720-730/mt +VAT, while their hot dip galvanized (HDG) coil prices are standing at $820-830/mt +VAT, all for deliveries to customers, for advanced payments and for December-January shipments.
On the other hand, HRC import offers from Russia and Ukraine to the UAE are now standing at $560-600/mt CFR Dubai, while plate offers from these countries are at $590-625/mt CFR Dubai. Both prices, which exclude VAT, are for advance payment and for January shipments.
Flat steel demand softens in UAE before the New Year
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