CRC demand maintains strength in Saudi Arabia

Demand for cold rolled coils (CRC) in Saudi Arabia has maintained its strength. While flat steel prices in the domestic market have remained unchanged since last week, it is reported that some mills in Saudi Arabia has started to import slab from foreign markets, including China and Japan. The lively CRC demand in Saudi Arabia has also affected the UAE market in a positive direction. After Ramadan, flat steel demand in Saudi Arabia is expected to reach good levels for all products.
 
HRC prices in the Saudi Arabian market are currently standing at $685-740/mt ex-works, while CRC prices are at $785-850/mt ex-works, HDG coil prices are at $850-870/mt ex-works and pre-painted galvanized iron (PPGI) prices are at $900-995/mt ex-works, all are excluding VAT, for advance payment and for September deliveries.
 
In the meantime, HRC offers from Japan and China to Saudi Arabia are at $650-660/mt +VAT CFR for advance payment and for late September shipments.