Even though import offers given to the Middle Eastern flats markets continue to decline, demand remains at weak levels. Buyers show no interest in import offers due to the slowdown in demand in their local markets. In addition, the slowdown in buying activity in the Middle East makes it difficult to mention specific market price levels.
In the UAE, South Korean import offers are still maintaining their high levels and are reported to be around $700/mt CFR for 2mm HRC. Meanwhile, HRC import offers given from Saudi Arabia to the UAE are reported to be standing at levels of $730-740/mt CFR, while ex-China ready stock 2 mm material offers are at $640/mt CFR.
In Egypt, EZDK's prices have not changed, remaining at the previous month's levels. Accordingly, EZDK's HRC prices are still at EGP 4,300/mt. It is heard that demand continues to be weak in Egypt. Another Egyptian mill Kandil's HDG offers have shown a softening as compared to previous weeks, with its HDG prices for 0.5-1.5 mm with Z180 coating now standing in the range of $855-930/mt FOB. Kandil's prices are heard to be negotiable.
Offers to another North African country, Tunisia, given from Europe are standing in the range of $640-660/mt CFR for 2 mm HRC, and it is thought that these offers may decline further.
The general opinion is that some buyers in the Middle East and North Africa are reluctant to make purchases before August, while others may start purchasing slowly.