According to market sources, hot rolled coil (HRC) prices in the local United Arab Emirates (UAE) spot market are currently in the range of $450-480/mt ex-warehouse. On the other hand, an UAE-based steel producer has reportedly given offers to its domestic market for HRC at $500-520/mt ex-works, while buyers have considered this price level to be on the high side.
Meanwhile, Chinese HRC offers to the UAE are now at $400/mt CFR.