SteelOrbis has learned that, in the Saudi Arabian market, local producer Hadeed is offering hot rolled coil (HRC) at $710/mt, while its cold rolled coil (CRC) prices are at $850/mt, both for deliveries to customer in February. Hadeed is expected to announce its new prices for March shipments next week.
In the meantime, Saudi traders' HRC offers in the domestic market are standing at the price level of $720/mt ex-warehouse.
Although flat steel demand in Saudi Arabia is still weak, prices have remained almost unchanged as compared to last week.