Major sheet producers across Middle East and North Africa (MENA) have reduced their sheet price offers for June output owing to a decline in HR coil import offers to the region. Saudi Arabian steelmaker Saudi Iron & Steel Company (Hadeed) has decreased its domestic HR coil price by $150 /t m/m to SAR3,905 ($1,040) /t CPT Riyadh (excluding 15% VAT). Meanwhile, North African major Ezz Steel of Egypt has reduced its HR coil for domestic buyers by EGP4,500 ($246) /t m/m to EGP20,500 ($1,120) /t ex-works. Moreover, UAEbased coated sheet producer Al Ghurair Iron & Steel has revised down its HDG coil (1mm, 275 GSM) price by $60 /t m/m to $1,380 /t ex-works for July deliveries. In the export market, Iranian origin slab is being offered to the export market at $560-570 /t FOB (down by $60 /t m/m) for early August shipments.
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