The Saudi Arabian market is not currently as active for flat steel as it is for long steel products, while domestic demand for flat steel remains stable.
In the Saudi Arabian domestic market, hot rolled coil (
HRC) prices are standing at $730/mt CPT Riyadh, while cold rolled coil (
CRC) prices are at $850/mt CPT Riyadh. These offers given by a Saudi flat steel producer are more attractive than import offers, according to local buyers.
On the import side, Indian and Taiwanese 1.2 mm
HRC offers are standing at $780/mt CFR, while
HRC offers from
Egypt are at $720/mt FOB.