Has falling trend of import HRC prices in UAE come to a halt?

Wednesday, 23 January 2019 15:28:49 (GMT+3)   |   Istanbul
       

It is observed that demand for import hot rolled coil (HRC) in the United Arab Emirates (UAE) has revived slightly over the past week. The perception that the falling trend of global HRC prices has ended has played a big role in the revival of demand. Meanwhile, Chinese HRC export prices have increased week on week as Chinese producers are aiming to exit the market at higher price levels ahead of the Chinese New Year holiday (February 2-10).

Having been at $525/mt CFR last week, Chinese HRC offers to the UAE are now at $535-540/mt CFR, indicating a $10-15/mt increase week on week. Meanwhile, Indian HRC offers to the same destination have also moved up slightly, to $500/mt CFR. While no new offers had been heard from the CIS region to the UAE, ex-CIS HRC offers to this country are at around $495/mt CFR.


Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

European HRC prices keep falling, demand still shows signs of fatigue

28 Mar | Flats and Slab

Vietnam’s Hoa Phat and Formosa seek AD investigation on Chinese HRC

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

HRC consumption in Mexico up 30.6 percent in January

26 Mar | Steel News

Local HRC prices sink further in Turkey

26 Mar | Flats and Slab