Iron ore price trend impacts Chinese HRC offers to Middle East

According to market sources, influenced by the decline in iron ore prices Chinese hot rolled coil (HRC) offers to Oman and to the UAE have continued their downward trend. Meanwhile, market players indicate that the softening of Chinese HRC prices has had a negative impact on demand in these markets. Chinese HRC offers for Oman and the UAE are now varying in the range of $520-525/mt CFR, declining by $10/mt week on week.