HRC offers to UAE decrease further

Wednesday, 17 October 2018 16:17:02 (GMT+3)   |   Istanbul
       

Over the past week, demand and trading activity in the United Arab Emirates (UAE) hot rolled coil (HRC) market have remained slack. Therefore, HRC offers to the UAE from foreign suppliers have continued to move downwards in the given period, decreasing to $575-585/mt CFR. A Russian steel producer has concluded an HRC deal to the UAE at $580/mt CFR, while ex-CIS HRC offers to the country decreased from previous week’s $580-590/mt CFR to $575-580/mt CFR. Meanwhile, Chinese suppliers’ HRC offers to the UAE, which were at $600/mt CFR before the Chinese National Day holiday in the first week of this month, have decreased by $15/mt this week to $585/mt CFR. As demand for HRC in the UAE is not expected to recover in the short term, import HRC offers to the country are likely to decrease further.


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