Ongoing disruptions in regional trade flows and the continued lack of a fully reliable logistics framework have kept the GCC HRC market under pressure this week. While underlying demand in the domestic market is not considered particularly weak, buyers remain constrained by limited access to workable shipping routes, prompting those able to secure alternative or accessible ports to proceed with cautious and gradual purchasing. As a result, activity across the region remains selective and fragmented rather than absent. The UAE market, however, continues to face more pronounced constraints due to ongoing port and route disruptions linked to the Strait of Hormuz, leaving most trading activity stalled. In contrast, Saudi Arabia has shown relatively stronger engagement, while Oman has also come into focus with signs of limited buying interest following a recently heard transaction.
In terms of pricing, Chinese HRC continues to be quoted at around $550/mt CFR UAE for May shipment, with no confirmed deals reported in the UAE market so far. However, a transaction has been heard for Oman, where approximately 10,000 mt of Chinese origin HRC was sold at $560/mt CFR Sohar, pointing to the viability of selective trade flows through accessible routes. In Saudi Arabia, 1.2 mm HRC offers are still heard at $610-615/mt CFR, with market sources indicating that some limited transactions may have taken place at these levels, though definite confirmation remains scarce.
Indian suppliers have maintained their offers at $520-530/mt FOB, but buying interest remains weak due to elevated freight costs and ongoing route-related risks.
Meanwhile, no fresh offers have been heard from Russian suppliers to the GCC market, with the last known indicative levels previously reported at $505-515/mt CFR for May-June shipment. However, Russian origin HRC is heard to have been offered lately at slightly higher levels of $520-525/mt CFR to the MENA region, with some limited sales also heard at these levels. Japanese suppliers have also remained absent from the market.
