UAE’s Al Ghurair Iron and Steel slashes quotes for HDG of September production
The UAE’s major HDG producer Al Ghurair Iron and Steel (AGIS) has slashed its quotes for September production to local buyers amid price decrease from China, cheaper feedstock and weakened demand.
The domestic prices dropped by $68/t in comparison with prices for August production. Chinese suppliers have reduced their prices by $20‑30/t over the previous three weeks despite production cuts. Indian mills have not been that aggressive having support from the local market of India. They have rolled over their prices.
source: Arab Steel
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