Import HRC offers to UAE increase

Wednesday, 20 March 2019 17:24:13 (GMT+3)   |   Istanbul
       

Over the past week, import hot rolled coil (HRC) offers to the United Arab Emirates (UAE) have increased by $10/mt on the upper end to $545-570/mt CFR, while UAE-based buyers have continued to make bookings. 

Meanwhile, ex-China HRC offers to the UAE are still at $560-565/mt CFR, remaining unchanged week on week. Some Indian flat steel exporters have increased their prices in order to maintain their profit margins amid the strengthening of the Indian rupee against the US dollar. As a result, ex-India HRC offers to the UAE have increased by $10/mt week on week to $560-570/mt CFR. However, UAE-based buyers consider $560/mt CFR to be on the high side and no deals have been concluded at this price level yet.

As UAE-based buyers are continuing their import HRC bookings in order both to meet their immediate needs and to replenish their inventories, import HRC offers to the UAE are unlikely to decrease in the short term.


Similar articles

Ex-China steel plate prices continue their downtrend

18 Mar | Flats and Slab

Local Indian HRC prices stable but discounts deepen amid political uncertainty

18 Mar | Flats and Slab

Major steel and raw material futures prices in China – March 18, 2024 

18 Mar | Longs and Billet

US HRC prices still ticking downward, prices expected to bottom this month

15 Mar | Flats and Slab

Major steel and raw material futures prices in China - March 15, 2024

15 Mar | Longs and Billet

Global View on HRC: Most global sellers still negative on prices, trade remains limited

15 Mar | Flats and Slab

HRC prices fall in all segments in Turkey, suppliers under pressure

15 Mar | Flats and Slab

Romanian flats spot prices stable as demand remains encouraging

15 Mar | Flats and Slab

Chinese domestic PPGI prices move down further

15 Mar | Flats and Slab

US HRC exports down 3.4 percent in January

14 Mar | Steel News