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.


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