In reaction to demand rises, gulf flat steel import prices in the United Arab Emirates and Saudi Arabia rose this week. Market players had returned from Eid Al-Adha festivities in the second half of the evaluation season, so demand was modest due to the holidays at the end of last week.
Last week offer rates for HRC from India were heard in the UAE at $490-500 per ton CFR, and buyers were bidding $470-480 per ton CFR. In the same time, Chinese offer rate was around $500-505 CFR. But in this first week of August, price keeps the momentum of increase due to situation that major Chinese increased offers by $10-15 per ton to $500-515 per ton FOB China for SS400 HRC. This will absolutely affect the price in many markets including gulf flat steel import prices by more $10-$15….
On October 16, 2020, the Canada Border Services Agency (CBSA) made its final determination on the Dumping and Countervailing Investigation of Certain corrosion-resistant steel sheet originating or exported from Turkey, the United Arab Emirates, and Vietnam.
Accordingly, CBSA terminated the dumping investigation with respect to certain corrosion-resistant steel sheet originating in or exported from Turkey by Borçelik Sanayi Ticaret A.Ş, and originating in or exported from the United Arab Emirates by Al Ghurair Iron & Steel LLC (AGIS), as they did not have margins of dumping.