December 12, news from Metal Tang, the stainless steel market in Middle East softened in November.
Following a drop of US$200-300/MT in October, import price (purchased from Far East, Western Europe, Brazil, South Africa, etc.) for stainless steel hot rolled coil at Dubai Port in United Arab Emirates plummeted by US$1000-1300/MT this month.
The import price for 304 stainless steel hot rolled coil was only US$2300-2400/MT, down sharply by US$1000; while the price for 316L hot coil was about US$4500-4600/MT, dropping steeply by US$1300..................................