SteelOrbis has learned that hot rolled coil (HRC) demand has showed signs of weakness in the UAE flat steel market. Meanwhile, local traders' HRC prices can be found at AED 2,300-2,400/mt ($627-654/mt) ex-warehouse, excluding VAT, for May shipments.
In the meantime, HRC offers from Russia to the UAE are now at $610-620/mt CFR + VAT for May output, indicating a decrease of $10-20/mt as compared to last month's levels.
$1 = AED 3.67