Flat steel prices in the UAE domestic market have continued to soften amid stagnant demand, while no positive signs have been observed in terms of a revival of the market. Accordingly, hot rolled coil (HRC) offers in the UAE domestic market have decreased by $20-40/mt, while cold rolled coil (CRC) offers have declined by $10-20/mt and hot dip galvanized coil (HDG) offers have moved down by $5-10/mt. Meanwhile, import offers to the country have remained unchanged this week.
In the UAE domestic market, traders are now offering HRC at $550-580/mt, CRC at $690-700/mt, while their HDG coil prices are now standing at $790-800/mt, all for deliveries to customers, for advanced payments and for November shipments.
On the other hand, HRC import offers from Russia and Ukraine to the UAE are still standing at $545-565/mt CFR Dubai, while their plate offers are at $575-580/mt CFR Dubai. Both prices, which exclude VAT, are for advance payment and for December shipments.
In addition ex-China and ex-India HRC offers to the region are at the level of $540-550/mt +VAT CFR Dubai, for advance payment and for December shipments.