The GCC HRC market has remained largely subdued amid ongoing geopolitical tensions, as continued disruptions of trade routes limit visibility and keep most suppliers away from issuing fresh offers. While demand has softened under the current conditions, gradually declining stock levels have started to trigger cautious buying interest, with buyers actively seeking workable offers and alternative supply options. Against this backdrop, a limited number of indications have begun to emerge, particularly from China and India, though the lack of confirmed deals continues to reflect the market’s fragile state.
This week, Chinese HRC offers have been heard at around $490/mt FOB, with indicative freight levels at $60-70/mt, though no confirmed transactions or clear shipment details have been reported. More broadly, Chinese offers for May shipment have been indicated within the range of $490-500/mt FOB.
Meanwhile, Indian suppliers have been heard offering HRC to the UAE at around $480-500/mt FOB, although no firm deals have been confirmed. There are also indications that some suppliers are exploring alternative routing options via the Red Sea towards Jeddah port. At the same time, official Indian offers to the GCC are reported at higher levels of $520-530/mt FOB for May shipment.
On the other hand, Japanese suppliers have remained largely silent in the GCC market, while Russian HRC suppliers have continued to offer material at around $505-515/mt CFR for May-June shipment.
