HRC import offer prices to Oman on the rise

Demand is slack and purchase volumes are limited in the Omani domestic market, while import flat steel prices have once again gained upward momentum, after the downtrend observed last week. With local buyers finding price levels to be on the high side and preferring to adopt a wait-and-see stance, buying activity is expected to become even weaker after the price increases.  
 
This week, in the local Omani market hot rolled coil (HRC) import offers from Russia have increased by $10/mt since last week to $630-640/mt CFR, while Ukrainian offers have indicated an increase of $40-50/mt over the past month to $620-630/mt CFR. The prices, which exclude VAT, are for advance payment and for March production.