Although hot rolled coil (HRC) demand in Oman was expected to soften with the start of Ramadan, it has not weakened significantly, while CIS and Indian origin HRC prices have declined by $5/mt on the higher end of the price range. Even if it is not certain yet, HRC prices in Oman are anticipated to decrease due to lower European and Chinese import offers resulting from weak domestic demand in these regions.
SteelOrbis has learned from market sources that CIS and Indian origin HRC import offers to Oman are now standing at $610-615/mt CFR, while offers from Europe are at about $625/mt CFR, both for advance payments and August rolling.