Demand for hot rolled coil (
HRC) in the Saudi Arabian market is currently weak. Saudi military intervention in Yemen has negatively impacted on demand. However, market players state that their main problem is weak end-user demand, while demand might increase if political tensions in the region subside.
Local
HRC prices in the Saudi Arabian market are currently in the range of $420-450/mt ex-works. On the other hand,
HRC offers from South Korea and China to Saudi Arabia are at $400-430/mt CFR and $370-390/mt CFR, respectively, both for June production.