Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Muslim Ramadan begins on March 11th and ends with the celebration of Eid al Fitr on April 11th, currently in the penultimate week of Ramadan. In the last few days of Ramadan, traditional demand for steel in the United Arab Emirates and Saudi Arabia JSH270C steel has slowed down, and it is expected that the import market will only improve in mid April.
At present, UAE Steel Company is still selling its rebar orders for April at a price of $745 per ton EXW, with a tradable price ranging from $680-700 per ton EXW. The rebar quotes from the re rolling plant are hovering between $635-655 per ton EXW. Buyers from the United Arab Emirates and Saudi Arabia have also postponed their purchases, resulting in slow performance in the board import market. The current UAE hot coil quotation is $560-610 per ton of CFR, cold coil quotation is $610-620 per ton of CFR, and hot-dip galvanizing quotation remains unchanged at $780-800 per ton of CFR.
At the same time, as one of the major steel suppliers to the United Arab Emirates JSH270C steel and Saudi Arabia, China's steel prices have continued to weaken recently, which has to some extent affected market sentiment. Relevant market participants expect that there is still some room for steel prices to decline, and demand is unlikely to improve until JSH270C steel buyers judge that prices have bottomed out, at least until the second half of the month.
