Contrary to other parts of the world, steel players in MEA are adopting a cautious approach to the market engulfed by severe volatility. Every one is haunted by the painful memories of past.
Although the import offers for both flat and long products are surging every day, the domestic levels are not moving up in tandem reflecting general mood among buyers and stockiest as well as tepid demand from real users.
The long delivery time for imports is a real dampener as not many are willing to bet on sustenance of such high prices when the imports actually land.
Surprisingly, flat products especially HR market is facing a paradox as domestic levels are slightly below current import offers