Following lively HRC buying activity in the UAE, this week has witnessed a slowdown in import activity. Although end-user demand, according to market participants, is still below expectations, a deal from China to the UAE was reported earlier this week. In the meantime, most import offers have remained stable week on week after previous market fluctuations and given the lack of a clear picture regarding Chinese suppliers over the past week.
According to reports, Chinese suppliers sold 30,000 mt of SS400 HRC to the UAE at $540/mt CFR for December shipment, though this has not been officially confirmed by the time of publication. Current HRC offers from China to the UAE for December shipment remain at $530-540/mt CFR.
Offers from Indian suppliers remain stable week on week at $560-570/mt CFR to the UAE, while there are no offers from Japanese suppliers this week. Previously, Indian and Japanese suppliers had offered and sold some lots to the UAE at $550-560/mt CFR and $535/mt CFR, respectively.