Over the past week, hot rolled coil (HRC) offers from overseas markets to the United Arab Emirates (UAE) have switched to a downtrend, while activity in the UAE market has remained stagnant. In this context, import HRC offers to the UAE have decreased by $25/mt on the lower end and by $30/mt on the upper end to $610-630/mt CFR. Following the lively trading activity in the UAE market in the previous week amid increased prices inquiries for HRC, HRC demand in the country has started to weaken. Market sources state that the downward movement of import HRC offers to the UAE is due to Chinese HRC suppliers who have directed their sales to export markets due to slack demand in their domestic market. Over the past week, Chinese HRC offers to the UAE have declined by $20/mt to 625/mt CFR. Meanwhile, ex-CIS HRC offers to the UAE have also decreased by $30/mt on average week on week to $610/mt CFR and ex-India HRC offers to the UAE are at $630/mt CFR.