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.