Import offers of hot rolled coil (HRC) in UAE have continued to move up in line with the uptrend in the global steel market. However, buying activity in the UAE has remained quite subdued, with end-users mostly purchasing only for their ongoing requirements.
Current offers for ex-China SAE1006 HRC in the UAE are mostly at $690-705/mt CFR Dubai, rising from $660-670/mt CFR over the past week. Meanwhile, ex-India SAE 1006 HRC offers have reached $735/mt CFR, compared to $680-700/mt largely voiced as indicative levels a week ago. “The UAE market with its sluggish activity is not our priority area of sales currently. The last traded levels in rare deals were at $720-730/mt CFR,” the representative of one India-based mill stated.
Offers for HRC with thickness of 3 mm and above from the regional producer Hadeed are reported to be at $720/mt CPT.