SteelOrbis has learned that in the Saudi Arabian market, local producer Hadeed is offering hot rolled coil (HRC) at $700-710/mt, while its cold rolled coil (CRC) prices are at $840-850/mt, both ex-works and for deliveries in February.
In the meantime, Saudi traders' HRC offers in the domestic market are standing at the price range of $710-720/mt ex-warehouse.
Although flat steel demand in Saudi Arabia remains weak, prices have increased by about $10/mt as compared to last week.