As import hot rolled coil (HRC) prices for Oman had not gained acceptance over a long period, downward pressure from buyers has finally produced the desired result. Accordingly, Russian May production HRC offers to Oman have declined by $20-30/mt since last week to $595/mt CFR for advance payment and exclusive of VAT. However, no recovery has been observed yet on the demand side, though market sources believe that transactions will likely be concluded at the new price.
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