دوشنبه, ۶ بهمن , ۱۳۹۹ 12 جماد ثاني 1442 Monday, 25 January , 2021 ساعت ×

FLAT STEEL IN GULF : Prices up on global trend, but local demand moderate

شناسه : 36073 ۲۲ آذر ۱۳۹۹ - ۱۰:۳۵
Flat steel import prices have risen in the UAE and Saudi Arabia over the past week.
FLAT STEEL IN GULF : Prices up on global trend, but local demand moderate
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Flat steel in Gulf , the United Arab Emirates (UAE) and Saudi Arabia have gone up over the past week because of globally strong demand, sources said on December 8.

The UAE was on national holidays on December 1-3, so buyers had only recently returned to the market.
But demand within the country was moderate because recent price increases had been too sharp for buyers to accept, and they wanted to wait and see if the increases would be permanent.

*** Flat steel in Gulf , UAE

Offer prices for hot-rolled coil from Chinese suppliers were heard at $660-670 per tonne cfr during the week, while India offered similar product to the UAE at $680-700 per tonne cfr.
No deals were heard, however.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr Jebel Ali, UAE was $660-680 per tonne on December 8, rising from $625-650 per tonne on December 1.

*** hot-dipped galvanized coil

Suppliers in China offered 1mm hot-dipped galvanized coil with 275g per square meter zinc coating as a Flat steel in Gulf at $825-840 per tonne cfr UAE, while India-origin HDG was on offer to the UAE at $900-910 per tonne cfr.
But again, no bookings were heard.

Fastmarkets’ weekly price assessment for steel HDG, import, cfr Jebel Ali, UAE, was $825-900 per tonne on December 8, rising from $780-830 per tonne on December 1.
The price difference between material from China and India reflects the fact that India-origin HDG is quality assured and certified for use in the UAE by the authorities there.
Cold-rolled coil was offered at $700 per tonne cfr UAE from China and at $730 per tonne cfr from India this week.
But once more, no bookings were heard.
Fastmarkets’ weekly price assessment for steel CRC, import, cfr Jebel Ali, UAE, was $700-730 per tonne on December 8, rising from $660-670 per tonne on December 1.

*** Flat steel in Gulf , Saudi Arabia

China offered HRC to Saudi Arabia at $670-680 per tonne cfr, and India offered similar product at around $690-710 per tonne cfr.
Once more, no bookings were heard.
Despite the inactivity, Fastmarkets’ weekly price assessment for steel HRC as a Flat steel in Gulf, import, cfr Saudi Arabia, was $670-690 per tonne on December 8, rising from $640-660 per tonne on December 1.

Reference: metal bulletin

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