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.