HRC deals concluded from South Korea to Saudi Arabia

In the Saudi Arabian domestic flat steel market, some hot rolled coil (HRC) purchases from South Korea have been concluded lately, especially for 1.2 mm thickness HRC which is not produced locally.
 
HRC export offers of South Korean producers have been at around $670/mt FOB, while transactions for 1.2 mm thick HRC from South Korea to Saudi Arabia have been concluded at $765/mt CFR. Market sources tell SteelOrbis that, in line with HRC deals concluded from South Korea to Saudi Arabia in the last two or three weeks, South Korean producers are expected to raise their export quotations for HRC by around $20/mt, though it is thought that the new offers may not gain acceptance in the export market.
 
On the other hand, Egyptian steel producer EZDK's HRC offers to Saudi Arabia are at $720/mt FOB base price level, while the producer's offers for 1.2 mm HRC are $70/mt higher.