Demand for hot rolled coil (HRC) in the Saudi Arabian market is still weak. The local Saudi HRC market has been negatively affected by the conflict in Yemen and so Saudi buyers are unwilling to replenish their stocks at present.
Local HRC prices in the Saudi Arabian market have remained unchanged over the past month in the range of $425-430/mt ex-works. On the other hand, HRC offers from Japan and China to Saudi Arabia have increased by $15/mt in the same period to $400-415/mt CFR, for September shipments.
Buyers unwilling to replenish stocks in Saudi Arabian HRC market
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