Slack demand in local UAE hot rolled coil market

Tuesday, 02 June 2015 12:24:52 (GMT+3)   |   Istanbul
According to market sources, demand in the local United Arab Emirates (UAE) hot rolled coil (HRC) market is still slack this week. Market sources state that UAE-based HRC traders are seeking to reduce their stock levels ahead of Ramadan, thereby exerting strong downward pressure on prices. Accordingly, ex-China HRC offers to the UAE market have decreased by $10/mt over the past two weeks to the range of $380-400/mt CFR for August production.

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