SteelOrbis has learned that the price levels of imported 1.2 mm HRC are at SAR 2,200-2,400/mt ($586-640/mt), imported CRC prices are at SAR 2,800-3,100/mt ($746-826/mt) and imported HDG prices are at SAR 3,300-3,800/mt ($880-1,013/mt); all prices are ex-warehouse in Saudi Arabia.
In the first weeks of the New Year, a revival is being observed in the Saudi Arabian flats market. The revival in HRC and CRC is more lively compared to HDG in particular. On the other hand, importers in this country have started to buy again. A deal for HRC has in the past week been concluded from Egyptian producer EZDK at $480/mt FOB. Egypt has been chosen for purchases due to the country's duty advantage; Egyptian does not impose any export duty on flats. Meanwhile, it is heard from market sources that EZDK is trying to increase its base HRC prices to higher levels, following the sales concluded by the producer to Saudi Arabia, Turkey and Europe.
It is reported that demand for CRC and also stocks of CRC are for the time being lower compared to recent weeks.
On the HDG side, since Chinese origin offers are too high, material is being bought from the HDG producer in Jordan. The main reasons behind this choice are that the material can be transported by truck and also the shortness of the delivery time.