The Middle East’s flat rolled steel market is experiencing a sluggish situation due to the low demand, and it is expected to continue its downtrend in September.
In Iran, prices of HRC are made at USD 930 per tonne under their heavy fund pressure, falling from USD 1,040 per tonne last week. In Lebanon, end buyers were reluctant to purchase for sheet products as they believe prices to drop further, which brought about the down-going market. At present, prices are being contracted in a range of USD 1,150 per tonne to USD 1,175 per tonne.
(Sourced from YIEH.com)
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