Flat steel demand likely to weaken in Saudi Arabia due to Ramadan

SteelOrbis has been informed that, although flat steel demand in the Saudi Arabian market has remained decent, it will likely soften with the approach of Ramadan.
 
As regards import flat steel offers, Chinese, Indian and Ukrainian hot rolled coil (HRC) offers to the Saudi market currently stand at $530-560/mt CFR base level, while Egypt and Japan are offering HRC to the country at price levels of $640-660/mt CFR. Meanwhile, ex-CIS and Chinese cold rolled coil (CRC) offers for Saudi Arabia can be found at $640-650/mt CFR.
 
In addition, import coated steel offers to the Saudi market are as follows: ex-UAE 0.50 mm hot dip galvanized coil (HDG) offers are at $840/mt CFR, while Chinese 2 mm HDG offers are standing at $730-750 CFR and Chinese offers for RAL 9002 0.32 mm pre-painted galvanized iron (PPGI) are being quoted at $890-910/mt CFR. All the offers are for August shipments and exclude VAT.