Buyers in the Gulf flat steel market like United Arab Emirates and Saudi Arabia booked hot-rolled coil (HRC) during the week to Tuesday March 2, while the price of some products changed, sources told Fastmarkets.
Demand was slow in both markets recently, but several bookings were heard to have been made because of decreasing stock levels.
*** Gulf flat steel , Saudi Arabia
China sold 1.2mm thick HRC at $825 per tonne cfr Saudi Arabia this week, normalizing to $775 per tonne cfr for 2mm base thickness.
Another booking for base product was heard at $775-775 per tonne cfr from China to Saudi Arabia.
India offered HRC to Saudi Arabia at $780 per tonne cfr.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr Saudi Arabia was $770-775 per tonne on March 2, rising from $750-760 per tonne on February 23.
Indian HRC was sold to the UAE at $730-735 per tonne cfr during the week, while Saudi Arabia also sold HRC at $730-735 per tonne cfr UAE.
China offered the product at $735-740 per tonne cfr UAE, while participants in India offered material at $745-750 per tonne cfr.
*** price assessment for steel HRC
Fastmarkets’ weekly price assessment for steel HRC, Gulf flat steel , import, cfr Jebel Ali, UAE was $730-745 per tonne on March 2, narrowing downward from $730-750 per tonne on February 23.
The hot-dipped galvanized coil (HDG) market was slow in the UAE over the week, sources said.
Producers in India offered HDG of 0.50mm thick with Z275 coating at $975-980 per tonne cfr UAE, rising from $۹۵۰-۹۶۰ per tonne cfr the week before.
One buyer was heard to be bidding at $960 per tonne cfr for Indian HDG.
China’s offers for HDG were reported at $900-910 per tonne cfr, up from the previous week’s offers at $880-890 per tonne cfr.
No bookings were heard, however.
*** price assessment for steel HDG
Fastmarkets’ weekly price assessment for steel HDG, Gulf flat steel , import, cfr Jebel Ali, UAE was $900-960 per tonne on Tuesday, rising from $880-950 per tonne on February 23.
No new prices for cold-rolled coil (CRC) imports were reported into the UAE over the assessment week, sources said.
Fastmarkets’ weekly price assessment for steel CRC, import, cfr Jebel Ali, UAE was stable week on week at $800-810 per tonne on March 2.
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