Flats demand has continued to trend slow in the United Arab Emirates, with buyers only seeking to replenish their diminishing stocks. HRC bookings to the UAE are heard to have been concluded in the range of $380-400/mt CFR from CIS countries, in particular from Ukraine. Also, HRC bookings have been concluded from western Europe and South Korea at the level of $405/mt CFR UAE for low tonnages. Russian and Ukrainian mills are trying to increase their HRC export offers; however, offers given by European and Far Eastern producers are at competitive levels, and consequently it is hard for the CIS origin offers to gain acceptance. CIS origin HRC offers to the UAE are currently standing in the range of $400-430/mt CFR for June output.
As for the plate market, in our price report published last week we mentioned the aggressive offers given from South Korea to the UAE. Especially in April and May, plate bookings were concluded from South Korea and India. Indian producers have this week sought to raise their plate offers to the UAE above the level of $500/mt CFR, but again the market response is likely to determine the price levels.
On the HDG side, in the UAE domestic market price levels are at AED 2,500/mt ($681/mt), while it is heard that HDG offers given from India for 0.5 mm 120 gr/m² zinc coated material are at $650/mt CFR.