The Middle East Region Hot-rolled Coil Import Prices Continued To Rise

On August 1, the UAE hot volume import valuation was $610-640 / ton (CFR), up from the previous week of $590-640 / ton (CFR). According to the UAE market, the mainstream export price of Chinese hot volume to the UAE was $610-620 / ton (CFR), up from the $590-620 / ton (CFR) last week; at the beginning of the week, the mainstream export price to the UAE was $640-650 / ton (CFR). August 1 Saudi Hot coil (1.2mm) import valuation of $630-650 / ton (CFR), up $10 / ton week on week. Recently, a Saudi buyer purchased a batch of 1.2mm hot coil from a mainstream Chinese steel mill for $630 / ton (CFR); at the beginning of the week, the 1.2mm hot coil in Taiwan, China area to Saudi mainstream export quoted $650-655 / ton (CFR), $10-15 / ton higher than last week’s price. In addition, the UAE cold volume import valuation was $680-720 / ton (CFR), up from the previous week’s $670-720 / ton (CFR). At the beginning of the week, the mainstream export prices from China and India to Saudi Arabia were $680 / ton (CFR) and $720-730 / ton (CFR), respectively. On August 1, the import valuation of UAE hot dip galvanized rolls was $780-830 / ton (CFR), up from the previous week at $760-830 / ton (CFR). At the beginning of the week, China hot dip galvanized roll to the UAE mainstream export price is USD 780-800 / ton (CFR), and at the beginning of the week, India Z275 coating 1mm hot dip galvanized roll to the UAE mainstream export price is USD 830-840 / ton (CFR).