Earlier this week, certain quantities of Hot Rolled Coil (HRC) products originating from China and India were secured for delivery to the Gulf Cooperation Council (GCC). Notably, GCC-based customers have persisted in restocking activities in line with prevailing market demand.
Despite prevalent hesitancy among buyers, particularly in the UAE, to replenish inventory amid challenging conditions in both domestic and export markets, a segment of buyers has demonstrated resilience by continuing to restock. Interestingly, these buyers have shown a preference for HRC products from China and India.
The nuanced response from buyers reflects the complexities in the current market landscape, with some businesses strategically restocking to meet ongoing demand. The choices of Chinese and Indian products underline the competitive advantages and appeal of these sources within the GCC region.
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