After previous restocking, Emirati purchasers have been silent on imports, although trade will probably continue in the next weeks since domestic market business activities have remained active. In the meantime, while Chinese offers have begun to soften relatively owing to local sentiments and future prices not being positive, other suppliers, especially Indian and South Korean, continue to offer very high ranges.
According to reports, this week's Chinese offers for SS400 grade HRC for January shipping to the UAE have decreased by $10/mt to $590-620/mt CFR. On the contrary, according to sources, SAE1006 grade HRC offers have risen by $10-20/mt to $630-640/mt CFR.
While the majority of Indian mills are not providing HRC to the UAE and instead concentrate on Europe and their local market, a few Indian suppliers continue to attempt to offer about $650-660/mt CFR, which compared to $640-650/mt CFR last week.
Similarly, South Korean suppliers have offered very high levels in the $695-700/mt CFR range, but due to notably more acceptable levels on the market, particularly from China, Emirati customers do not show interest in these levels.
