Tel :
Tel :
This week, negotiations in the AB/FQ47 steel hot-rolled coil market of Gulf countries have been active, and multiple orders have been finalized, marking the beginning of a new round of replenishment cycle in the downstream of the region. In the fierce competition between Japanese and Chinese steel mills, local steel mills are gradually increasing their preference for Japanese resources, while China is striving to maintain market share through more attractive prices. Market sources have reported that Nippon Steel has placed two hot coil orders with rolling mills in the Gulf region, with transaction prices ranging from $500 to $505 per ton CFR, slightly higher than the previous round's deal of $495 per ton CFR. The price increase this time is mainly affected by fluctuations in the Japanese yen exchange rate, resulting in a slight increase in export quotes.
This type of transaction has strategic significance for Japanese steel mills. Unlike the limited market share in the Gulf Cooperation Council, recent orders indicate that Japanese steel mills are gradually increasing their commercial presence in the region. And Japanese coils are becoming increasingly attractive in steel AB/FQ47 steel mills due to their stable quality and delivery time. Despite this, Chinese steel mills still maintain a dominant position in the market. At present, the quotation for Chinese hot coils to the Middle East is $480-500/ton CFR at Jebel Ali Port, and the quotation for 1.2mm hot coils to Saudi Arabia is $525-530/ton CFR.
As buyers from the United Arab Emirates and Saudi Arabia AB/FQ47 steel accelerate their lock-in pace to avoid potential price fluctuations, the market expects more ordering news to be released in the coming days.
