Weak HRC demand in GCC countries

SteelOrbis has learned from market sources that hot rolled coil (HRC) offers to the Gulf region have recently softened. It is reported that ex-Russia HRC offers to the region have declined from $800-810/mt CFR to the level of $780/mt CFR. However, SteelOrbis has heard that this price level has only attracted limited interest in the region where demand is still weak.