HRC Import Prices in The Middle East Are Mixed

On May 9, the evaluation price of imports of hot coils in the UAE was US$635-670/ton (CFR), an increase of US$5-20/ton from the previous month.

According to the news from the UAE market, the mainstream quotations from overseas suppliers for UAE exports at the beginning of this week: Chinese hot coil 640-650 US dollars / ton (CFR); Japanese hot coil 670-680 US dollars / ton (CFR); Korean hot coil 670-675 US dollars / ton (CFR). At the beginning of this week, the transaction price of Indian hot coil purchased by UAE buyers was 635 US dollars / ton (CFR). Due to the uncertainty of the price trend in the future market, buyers in the UAE still mainly purchase imported hot coils in small batches on demand. However, some market participants in the UAE said that after the recent continuous decline, the import price of HRC in the UAE market has dropped. Basically at the bottom, there is a greater possibility of a certain rebound in the short term. In the past week, the export quotations of Asian hot-rolled coils to the UAE generally rose to a certain extent.

On May 9, the estimated import price of Saudi hot coil (1.2mm) was US$670-680/ton (CFR), a decrease of US$20/ton from the previous month. At the beginning of this week, China's export price of 1.2mm hot rolled coil to Saudi Arabia was 670-685 US dollars / ton (CFR). At the beginning of this week, it was not heard that there were relatively large orders for imported hot rolled coils in the Saudi market.

In addition, on May 9, the import price of UAE cold coil was estimated at 700-710 US dollars / ton (CFR), an increase of 10 US dollars / ton from the previous month. At the beginning of this week, the mainstream price of Chinese cold coil exported to the UAE was 700-720 US dollars / ton (CFR).

On May 9, the import price of hot-dip galvanized sheets in the UAE was estimated at 820-880 US dollars / ton (CFR), showing a downward trend compared with 820-890 US dollars / ton (CFR) in the previous week. At the beginning of this week, the main export quotations of China and India Z275 coated 1mm hot-dip galvanized sheets to the UAE were 820-840 US dollars / ton (CFR) and 880-890 US dollars / ton (CFR) respectively; the mainstream arrival price of medium and thick plates was 940 USD/ton or so.

Note: USD 635-670=RMB 4401-4643, USD 670-680=RMB 4643-4712 (based on the RMB/USD exchange rate on May 10)