Following significant purchases from Japan and India, Emirati purchasers who currently have sufficient stocks and steady demand have remained mute on importing while monitoring the market developments. In the meantime, Chinese suppliers have displayed declines compared to last week due to future price fluctuations and weak demand, while Indian and Japanese suppliers have comparatively consistent offers on HRC import offers.
According to reports, Chinese suppliers have offered SS400 grade HRC to the UAE for the end of January and February at $520-525/mt CFR, down from $530-550/mt CFR the week before.
Japanese suppliers, on the other hand, who sold large volumes for $530-540/mt CFR, have maintained their prices from the previous week.
Similarly, the majority of Indian suppliers have maintained last week's deal prices at $540/mt CFR, albeit with certain mills attempting to offer past higher levels of $550/mt CFR. Although higher levels have been mentioned, mills are likely to provide discounts for serious purchasers and bigger tonnage.
