In Saudi Arabia, although rebar demand is strong, flat steel demand remains slow.
SteelOrbis has been informed that, in the Saudi Arabian market, Indian origin 1.2 mm hot rolled coil (
HRC) offers are standing at $850/mt CFR Dammam, while offers for Taiwanese origin 1.2 mm
HRC via traders stand at $830/mt CFR, both for August shipments. Although there are also 1.2 mm
HRC offers from
Thailand, buyers are not showing interest in these offers, finding them very high. Last week, South Korean offers to Saudi Arabia for 1.2 mm
HRC were standing at $820-830/mt CFR.
In the meantime, 2 mm
HRC import offers given to Saudi Arabia by Egyptian flat steel producer EZDK stand at $760/mt FOB for August rolling.