Traders in the Saudi Arabian market have started to stock up ahead of Ramadan due to the satisfactory demand levels for flat steel. In the meantime, flat steel demand is expected to be better after Ramadan, while traders have already started to stock up for September. Unless big price changes happen in the global market, the Saudi Arabian market will continue to follow a stable trend.
Meanwhile, in the Saudi Arabian domestic market hot rolled coil (HRC) prices are at $720-780/mt, cold rolled coil (CRC) quotations are at $730-750/mt, hot dip galvanized (HDG) prices stand at $80-860/mt and pre-painted galvanized iron (PPGI) prices are standing at $920-940/mt. All the prices are on ex-works basis, exclude VAT, and are for advance payment and for August and September shipments.