UAE-based buyers continue to postpone their import HRC bookings

Wednesday, 16 January 2019 17:46:33 (GMT+3)   |   Istanbul

Over the past week, demand for import hot rolled coil (HRC) in the United Arab Emirates (UAE) has remained slack as buyers have continued to postpone their bookings. UAE-based buyers are waiting for HRC prices to decrease to expected levels and in the meantime they are planning to resume their purchases after their stocks have been depleted completely. According to market sources, Indian HRC exporters are still adopting an aggressive pricing policy, with their quotations to the UAE at $480-490/mt CFR.  Therefore, currently, the lowest HRC offers to the UAE are being made by Indian exporters. Chinese HRC suppliers, who aimed to increase their export prices slightly as of the start of the year, are not giving offer prices to the UAE below $525/mt CFR. Meanwhile, no new HRC offers have been heard from CIS-based suppliers to the UAE in the given week and their new offers are expected to be heard towards the end of this month.


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