Even though after the holiday trade, in particular to the UAE domestic market, has resumed at slow levels, according to sources several GCC tube producers have booked some quantities from India. On the other hand, import offers, particularly from China which has the lowest levels in the market, have been relatively stable, while offers from South Korea have not been heard.
As a consequence, India sold over 20,000 mt of HRC to several tube producers in the GCC this week for $635/mt CFR for end-of-January shipment, while offers from Indian suppliers have been stable at $635-640/mt CFR to the GCC.
Meanwhile, ex-China offers for SS400 grade HRC shipment in February are still at $600-620/mt CFR to the UAE. Similarly, offers for SAE1006 grade HRC for February shipment have been fixed at $620-640/mt CFR.
As previously stated, South Korean suppliers wish to achieve significantly higher prices but have attracted no interest from Emirati clients and so have chosen not to offer to the UAE.
